Endogenous crisis waves: a stochastic model with synchronized collective behavior
Statistical Mechanics
2015-03-03 v1 Economics
Abstract
We propose a simple framework to understand commonly observed crisis waves in macroeconomic Agent Based models, that is also relevant to a variety of other physical or biological situations where synchronization occurs. We compute exactly the phase diagram of the model and the location of the synchronization transition in parameter space. Many modifications and extensions can be studied, confirming that the synchronization transition is extremely robust against various sources of noise or imperfections.
Cite
@article{arxiv.1409.3296,
title = {Endogenous crisis waves: a stochastic model with synchronized collective behavior},
author = {Stanislao Gualdi and Jean-Philippe Bouchaud and Giulia Cencetti and Marco Tarzia and Francesco Zamponi},
journal= {arXiv preprint arXiv:1409.3296},
year = {2015}
}
Comments
5 pages, 3 figures. This paper is part of the CRISIS project, http://www.crisis-economics.eu