Related papers: Bubble burst as jamming phase transition
We present a macro-finance model with innovation and knowledge spillover. Skilled agents engage in R&D activities (establish firms) or work in the knowledge-intensive sector. Unskilled agents work in the traditional sector. Knowledge…
We study the phenomenon of turbulence from the point of view of statistical physics. We discuss what makes the turbulent states different from the thermodynamic equilibrium and give the turbulent analog of the partition function. Then,…
Traffic waves, known also as stop-and-go waves or phantom hams, appear naturally as traffic instabilities, also in confined environments as a ring-road. A multi-population traffic is studied on a ring-road, comprised of drivers with stable…
What is the role of social interactions in the creation of price bubbles? Answering this question requires obtaining collective behavioural traces generated by the activity of a large number of actors. Digital currencies offer a unique…
This work reports an experimental characterisation of the flow properties in a homogeneous bubble swarm rising at high-Reynolds-numbers within a homogeneous and isotropic turbulent flow. Both the gas volume fraction {\alpha} and the…
Traffic jams are an everyday hindrance to transport, and typically arise when many vehicles have the same or a similar destination. We show, however, that even when uniformly distributed in space and uncorrelated, targets have a crucial…
We study from a statistical physics perspective the dynamics of a bouncing ball maintained in a chaotic regime thanks to collisions with a plate experiencing an aperiodic vibration. We analyze in details the energy exchanges between the…
Many complex systems exhibit extreme events far more often than expected for a normal distribution. This work examines how self-similar bursts of activity across several orders of magnitude can emerge from first principles in systems that…
This paper considers the ideal gas-like model of trading markets, where each individual is identified as a gas molecule that interacts with others trading in elastic or money-conservative collisions. Traditionally this model introduces…
We scrutinize the temporally-resolved speed of active cargo transport in living cells, and show intermittent bursting motions. These nonlinear fluctuations follow a scaling law over several decades of time and space, the statistical…
Bursty dynamics is a common temporal property of various complex systems in Nature but it also characterises the dynamics of human actions and interactions. At the phenomenological level it is a feature of all systems that evolve…
We study the factorised steady state of a general class of mass transport models in which mass, a conserved quantity, is transferred stochastically between sites. Condensation in such models is exhibited when above a critical mass density…
When a bubble of air rises to the top of a highly viscous liquid, it forms a dome-shaped protuberance on the free surface. Unlike a soap bubble, it bursts so slowly as to collapse under its own weight simultaneously, and folds into a…
The increasing urbanization process we have been witnessing in the last decades is accompanied by a significant increase in traffic congestion in cities around the world. The effect of the congestion is represented in the enormous time…
We use standard physics techniques to model trading and price formation in a market under the assumption that order arrival and cancellations are Poisson random processes. This model makes testable predictions for the most basic properties…
The theory of a jamming transition is proposed for the homogeneous car-following model within the framework of Lorenz scheme. We represent a jamming transition as a result of the spontaneous deviations of headway and velocity that is caused…
A model for traffic flow in street networks or material flows in supply networks is presented, that takes into account the conservation of cars or materials and other significant features of traffic flows such as jam formation, spillovers,…
In this paper we provide a comprehensive analysis of a structural model for the dynamics of prices of assets traded in a market originally proposed in [1]. The model takes the form of an interacting generalization of the geometric Brownian…
We document and analyze the empirical facts concerning one of the clearest evidence of speculation in financial trading as observed in the postage collection stamp market. We unravel some of the mechanisms of speculative behavior which…
There are hidden observables for inflation, such as features localized in position space, which do not manifest themselves when only one inflation trajectory is considered. To address this issue, we investigate inflation dynamics in a…