Self-organization of value and demand
Statistical Mechanics
2009-10-31 v2 General Finance
Abstract
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 with a Hurst exponent of 0.7.
Keywords
Cite
@article{arxiv.cond-mat/9906298,
title = {Self-organization of value and demand},
author = {R. Donangelo and K. Sneppen},
journal= {arXiv preprint arXiv:cond-mat/9906298},
year = {2009}
}
Comments
RevTex, 4 pages, 3 figures