Physics of Fashion Fluctuations
Condensed Matter
2009-10-31 v1
Abstract
We consider a market where many agents trade many different types of products with each other. We model development of collective modes in this market, and quantify these by fluctuations that scale with time with a Hurst exponent of about 0.7. We demonstrate that individual products in the model occationally become globally accepted means of exchange, and simultaneously become very actively traded. Thus collective features similar to money spontaneously emerge, without any a priori reason.
Cite
@article{arxiv.cond-mat/0004408,
title = {Physics of Fashion Fluctuations},
author = {Raul Donangelo and Alex Hansen and Kim Sneppen and Sergio R. Souza},
journal= {arXiv preprint arXiv:cond-mat/0004408},
year = {2009}
}
Comments
9 pages RevTeX, 5 Postscript figures