Preface
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Cluster Expansion Method for Evolving Weighted Networks Having Vector-Like Nodes
M. Ausloos and M. Gligor page 491  abstract   Full Text PDF

A Simple Model of Local Prices and Associated Risk Evaluation
K. Urbanowicz, J.A. Hołyst and P. Richmond page 501  abstract   Full Text PDF

Bayesian Forecasting of the Discounted Payoff of Options on WIG20 Index in Discrete-Time SV Models
A. Pajor page 507  abstract   Full Text PDF

On the Empirical Importance of the Conditional Skewness Assumption in Modelling the Relationship between Risk and Return
M. Pipień page 517  abstract   Full Text PDF

A Threshold Model of Financial Markets
P. Sieczka and J.A. Hołyst page 525  abstract   Full Text PDF

Minimal Spanning Tree Graphs and Power Like Scaling in FOREX Networks
A.Z. Górski, J. Kwapień, P. Oświęcimka and S. Drożdż page 531  abstract   Full Text PDF

Current Log-Periodic View on Future World Market Development
S. Drożdż, J. Kwapień, P. Oświęcimka and J. Speth page 539  abstract   Full Text PDF

Different Fractal Properties of Positive and Negative Returns
P. Oświęcimka, J. Kwapień, A.Z. Górski, S. Drożdż and R. Rak page 547  abstract   Full Text PDF

Toy Model for Large Non-Symmetric Random Matrices
M. Snarska page 555  abstract   Full Text PDF

Cross-Correlations in Warsaw Stock Exchange
R. Rak, J. Kwapień, P. Oświęcimka and S. Drożdż page 561  abstract   Full Text PDF

New Results on Gain-Loss Asymmetry for Stock Markets Time Series
M. Grudziecki, E. Gnatowska, K. Karpio, A. Orłowski and M. Załuska-Kotur page 569  abstract   Full Text PDF

Statistical Properties of the Proportional Voting Process
T.M. Gradowski and R.A. Kosiński page 575  abstract   Full Text PDF

The Sznajd Dynamics on a Directed Clustered Network
K. Malarz and K. Kułakowski page 581  abstract   Full Text PDF

The SIRS Model of Epidemic Spreading in Virtual Society
A. Grabowski and R. Kosiński page 589  abstract   Full Text PDF

How Nodes and Groups Properties Influence Assortativity in Social Networks?
P. Hetman, P. Magnuszewski, J. Stefańska, L. Bujkiewicz and K. Ostasiewicz page 597  abstract   Full Text PDF

Subdiffusion with External Time Modulation
R. Wojnar page 607  abstract   Full Text PDF

Modelling of Short Term Interest Rate Based on Fractional Relaxation Equation
K. Jaworska page 613  abstract   Full Text PDF

Bounds for Value at Risk for Multiasset Portfolios
P. Jaworski page 619  abstract   Full Text PDF

Financial Data Analysis by means of Coupled Continuous-Time Random Walk in Rachev-Rűschendorf Model
A. Jurlewicz, A. Wyłomańska and P. Żebrowski page 629  abstract   Full Text PDF

Report on Foundation and Organization of Econophysics Graduate Courses at Faculty of Physics of University of Warsaw and Department of Physics and Astronomy of the Wrocław University
R. Kutner and D. Grech page 637  abstract   Full Text PDF