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Recently, in order to explore the mechanism behind wealth or income distribution, several models have been proposed by applying principles of statistical mechanics. These models share some characteristics, such as consisting of a group of…

Physics and Society · Physics 2008-12-02 Yougui Wang , Ning Ding , Ning Xi

Understanding the mechanisms leading to the formation and the propagation of traffic jams in large cities is of crucial importance for urban planning and traffic management. Many studies have already considered the emergence of traffic jams…

Physics and Society · Physics 2021-09-02 Erwan Taillanter , Marc Barthelemy

In social networks, bursts of activity often result from the imitative behavior between interacting agents. The Ising model, along with its variants in the social sciences, serves as a foundational framework to explain these phenomena…

Adaptation and Self-Organizing Systems · Physics 2023-08-29 Sornette Didier , Sandro Lera , Jianhong Lin , Ke Wu

We develop a model for point processes on the real line, where the intensity can be locally unbounded without inducing an explosion. In contrast to an orderly point process, for which the probability of observing more than one event over a…

Econometrics · Economics 2026-01-16 Kim Christensen , Alexei Kolokolov

Most car-following models show a transition from laminar to ``congested'' flow and vice versa. Deterministic models often have a density range where a disturbance needs a sufficiently large critical amplitude to move the flow from the…

Statistical Mechanics · Physics 2007-05-23 Kai Nagel , Christopher Kayatz , Peter Wagner

Traffic breakdown, as one of the most puzzling traffic flow phenomena, is characterized by sharply decreasing speed, abruptly increasing density and in particular suddenly plummeting capacity. In order to clarify its root mechanisms and…

Physics and Society · Physics 2017-04-04 Zuojun Wang , Junfang Tian , Rui Jiang , Xiaopeng Li , Shou Feng Ma

We apply the equal load-sharing fiber bundle model of fracture failure in composite materials to model the traffic failure in a system of parallel road network in a city. For some special distributions of traffic handling capacities…

Statistical Mechanics · Physics 2009-11-11 Bikas K. Chakrabarti

This Chapter reviews statistical models for the probability distribution of money developed in the econophysics literature since the late 1990s. In these models, economic transactions are modeled as random transfers of money between the…

Statistical Finance · Quantitative Finance 2012-04-10 Victor M. Yakovenko

We investigate a traffic model in which cars either move freely with quenched intrinsic velocities or belong to clusters formed behind slower cars. In each cluster, the next-to-leading car is allowed to pass and resume free motion. The…

Statistical Mechanics · Physics 2009-10-31 I. Ispolatov , P. L. Krapivsky

A microscopic model of financial markets is considered, consisting of many interacting agents (spins) with global coupling and discrete-time thermal bath dynamics, similar to random Ising systems. The interactions between agents change…

Statistical Mechanics · Physics 2012-08-27 Andrzej Krawiecki , Janusz A. Holyst , and Dirk Helbing

As a typical self-driven many-particle system far from equilibrium, traffic flow exhibits diverse fascinating non-equilibrium phenomena, most of which are closely related to traffic flow stability and specifically the growth/dissipation…

Adaptation and Self-Organizing Systems · Physics 2015-06-18 Rui Jiang , Mao-Bin Hu , H. M. Zhang , Zi-You Gao , Bin Jia , Qing-Song Wu , Bing Wang , Ming Yang

Turbulence exhibits significant velocity fluctuations even if the scale is much larger than the scale of the energy supply. Since any spatial correlation is negligible, these large-scale fluctuations have many degrees of freedom and are…

Fluid Dynamics · Physics 2015-05-20 H. Mouri , A. Hori , Y. Kawashima , K. Hashimoto

Bubbles drive gas and chemical transfers in various industrial and geophysical contexts, in which flows are typically turbulent. As gas and chemical transfers are bubble size dependent, their quantification requires a prediction of bubble…

Fluid Dynamics · Physics 2025-05-09 Aliénor Rivière , Stéphane Perrard

We show that a simple model of a spatially resolved evolving economic system, which has a steady state under simultaneous updating, shows stable oscillations in price when updated asynchronously. The oscillations arise from a gradual…

General Finance · Quantitative Finance 2009-10-02 Lawrence Mitchell , G. J. Ackland

Financial bubbles and crashes have repeatedly caused economic turmoil notably but not only during the 2008 financial crisis. However, both in the popular press as well as scientific publications, the meaning of bubble is sometimes…

General Economics · Economics 2025-02-17 Michael Heinrich Baumann , Anja Janischewski

Cavitation and bubble dynamics are central concepts in engineering, the natural sciences, and the mathematics of fluid mechanics. Due to the nonlinear nature of their dynamics, the governing equations are not fully solvable. Here, the…

Fluid Dynamics · Physics 2014-10-15 Alexander R. Klotz

Breaking waves entrain gas beneath the surface. The wave-breaking process energizes turbulent fluctuations that break bubbles in quick succession to generate a wide range of bubble sizes. Understanding this generation mechanism paves the…

Fluid Dynamics · Physics 2021-02-24 Wai Hong Ronald Chan , Perry Johnson , Parviz Moin

The dynamics of rapidly collapsing bubbles are of great interest due to the high degree of energy focusing that occurs withing the bubble. Molecular dynamics provides a way to model the interior of the bubble and couple the gas dynamics…

Computational Physics · Physics 2013-06-27 Spenser Bauman , Max Fomitchev-Zamilov

We analyze the characteristic features of traffic breakdown. To describe this phenomenon we apply to the probabilistic model regarding the jam emergence as the formation of a large car cluster on highway. In these terms the breakdown occurs…

Soft Condensed Matter · Physics 2013-05-29 Reinhart Kuhne , Reinhard Mahnke , Ihor Lubashevsky , Jevgenijs Kaupuzs

When a new vehicle joins a lane, those behind may have to temporarily slow to accommodate them. Changing lane can be forced due to lane drops or junctions, but may also take place spontaneously at discretion of drivers, and recent studies…

Physics and Society · Physics 2023-08-15 Jeremy Worsfold , Tim Rogers