Self-organization of value and demand

被引：31

作者：

Donangelo, R

Sneppen, K

机构：

[1] Univ Fed Rio de Janeiro, Inst Fis, BR-21945970 Rio De Janeiro, Brazil

[2] NORDITA, DK-2100 Copenhagen, Denmark

来源：

PHYSICA A | 2000年 / 276卷 / 3-4期

关键词：

D O I：

10.1016/S0378-4371(99)00473-2

中图分类号：

O4 [物理学];

学科分类号：

0702 ;

摘要：

We study the dynamics of exchange value in a system composed of many interacting agents. The simple model we propose exhibits cooperative emergence and collapse of global value for individual goods. We demonstrate that the demand that drives the value exhibits non-Gaussian "fat tails" and typical fluctuations which grow with time interval as Delta t(H), with H similar to 0.7. (C) 2000 Elsevier Science B.V. All rights reserved.

引用

页码：572 / 580

页数：9

共 22 条

[1] THE STABLE-LAW MODEL OF STOCK RETURNS [J].

AKGIRAY, V ;

BOOTH, GG .

JOURNAL OF BUSINESS & ECONOMIC STATISTICS, 1988, 6 (01) :51-57

[2]

[Anonymous], INCREASING RETURNS P

[3]

[Anonymous], 1950, PRINCIPLES EC

[4] SELF-ORGANIZED CRITICALITY - AN EXPLANATION OF 1/F NOISE [J].

BAK, P ;

TANG, C ;

WIESENFELD, K .

PHYSICAL REVIEW LETTERS, 1987, 59 (04) :381-384

[5] Price variations in a stock market with many agents [J].

Bak, P ;

Paczuski, M ;

Shubik, M .

PHYSICA A-STATISTICAL MECHANICS AND ITS APPLICATIONS, 1997, 246 (3-4) :430-453

[6] PHASE-DIAGRAM OF A MODEL OF SELF-ORGANIZING HIERARCHIES [J].

BONABEAU, E ;

THERAULAZ, G ;

DENEUBOURG, JL .

PHYSICA A, 1995, 217 (3-4) :373-392

[7] Emergence of cooperation and organization in an evolutionary game [J].

Challet, D ;

Zhang, YC .

PHYSICA A, 1997, 246 (3-4) :407-418

[8] Fractal geometry of financial time series [J].

Evertsz, CJG .

FRACTALS-AN INTERDISCIPLINARY JOURNAL ON THE COMPLEX GEOMETRY OF NATURE, 1995, 3 (03) :609-616

[9] Turbulent cascades in foreign exchange markets [J].

Ghashghaie, S ;

Breymann, W ;

Peinke, J ;

Talkner, P ;

Dodge, Y .

NATURE, 1996, 381 (6585) :767-770

[10] The influence of investor number on a microscopic market model [J].

Hellthaler, T .

INTERNATIONAL JOURNAL OF MODERN PHYSICS C-PHYSICS AND COMPUTERS, 1995, 6 (06) :845-852

← 1 2 3 →