Picture of mobile phone running fintech app

Fintech: Open Access research exploring new frontiers in financial technology

Strathprints makes available Open Access scholarly outputs by the Department of Accounting & Finance at Strathclyde. Particular research specialisms include financial risk management and investment strategies.

The Department also hosts the Centre for Financial Regulation and Innovation (CeFRI), demonstrating research expertise in fintech and capital markets. It also aims to provide a strategic link between academia, policy-makers, regulators and other financial industry participants.

Explore all Strathclyde Open Access research...

Large deviation approach to the generalized random energy model

Dorlas, T C and Dukes, W M B (2002) Large deviation approach to the generalized random energy model. Journal of Physics A: Mathematical and Theoretical, 35 (20). pp. 4385-4394. ISSN 0305-4470

Full text not available in this repository. Request a copy from the Strathclyde author

Abstract

The generalized random energy model is a generalization of the random energy model introduced by Derrida to mimic the ultrametric structure of the Parisi solution of the Sherrington–Kirkpatrick model of a spin glass. It was solved exactly in two special cases by Derrida and Gardner. A complete solution for the thermodynamics in the general case was given by Capocaccia et al. Here we use large deviation theory to analyse the model in a very straightforward way. We also show that the variational expression for the free energy can be evaluated easily using the Cauchy–Schwarz inequality.