Entropy | Best Poster Award at the 11th Polish Symposium on Physics in Economy and Social Sciences (FENS2021)

We are pleased to announce the winner of the “Best Poster Award” sponsored by Entropy for the 11th Polish Symposium on Physics in Economy and Social Sciences (FENS2021) held on 1–3 July 2021.

• “Multibranch Multifractality and the Phase Transitions in the Trading Activity”
  by Jaroslaw Klamut, Ryszard Kutner, Tomasz Gubiec and Zbigniew R. Struzik

Empirical time series of inter-event or waiting times were investigated using a modified multifractal detrended fluctuation analysis operating on fluctuations of mean detrended dynamics. At the core of the extended multifractal analysis was the non-monotonic behavior of the generalized Hurst exponent h(q)—the fundamental exponent in the study of multifractals. The consequence of this behavior is the non-monotonic behavior of the coarse Hölder exponent α(q) leading to the multi-branchedness of the spectrum of dimensions. The Legendre–Fenchel transform was used instead of the routinely used canonical Legendre (single-branched) contact transform. The thermodynamic consequences of the multi-branched multifractality were revealed. The results were presented for the high-frequency data of the Polish stock market (Warsaw Stock Exchange) for intertrade times for KGHM—one of the most liquid stocks contained therein.