Related papers: A Creepy World
The economical world consists of a highly interconnected and interdependent network of firms. Here we develop temporal and structural network tools to analyze the state of the economy. Our analysis indicates that a strong clustering can be…
A theoretical model is presented which provides a way to simulate, at a very abstract level, power struggles in the social world. In the model, agents can benefit or harm each other, to varying degrees and with differing levels of…
Standard macroeconomic models assume that households are rational in the sense that they are perfect utility maximizers, and explain economic dynamics in terms of shocks that drive the economy away from the stead-state. Here we build on a…
This paper presents a novel study on gas-like models for economic systems. The interacting agents and the amount of exchanged money at each trade are selected with different levels of randomness, from a purely random way to a more chaotic…
We propose a simple quantitative model of Schumpeterian economic dynamics. New goods and services are endogenously produced through combinations of existing goods. As soon as new goods enter the market they may compete against already…
Many dynamical systems operate in a fluctuating environment. However, even in low-dimensional setups, transitions and bifurcations have not yet been fully understood. In this Letter we focus on crises, a sudden flooding of the phase space…
A simple generative model of a foraging society generates significant wealth inequalities from identical agents on an equal opportunity landscape. These inequalities arise in both equilibrium and non-equilibrium regimes with some societies…
Noise plays a fundamental role in a wide variety of physical and biological dynamical systems. It can arise from an external forcing or due to random dynamics internal to the system. It is well established that even weak noise can result in…
We consider the time evolution of a one dimensional $n$-gradient continuum. Our aim is to construct and analyze discrete approximations in terms of physically realizable mechanical systems, called microscopic because they are living on a…
My goal is to study the dynamics of the Universe from a relational perspective based on the happening of events in temporal relation to each other and their respective points of reference. Accordingly, the flow of time was modeled as the…
The theoretical and numerical understanding of the key concept of topological entropy is an important problem in dynamical systems. Most studies have been carried out on maps (discrete-time systems). We analyse a scenario of global changes…
The recent financial crisis of 2008 and the 2011 indebtedness of Greece highlight the importance of understanding the structure of the global financial network. In this paper we set out to analyze and characterize this network, as captured…
With a steadily growing population and rapid advancements in technology, the global economy is increasing in size and complexity. This growth exacerbates global vulnerabilities and may lead to unforeseen consequences such as global…
Economy is demanding new models, able to understand and predict the evolution of markets. To this respect, Econophysics offers models of markets as complex systems, that try to comprehend macro-, system-wide states of the economy from the…
We study the creep behavior of a disordered brittle material (concrete) under successive loading steps, using acoustic emission and ultrasonic sensing to track internal damage. The primary creep rate is observed to follow a (Omori-type)…
The paper discusses various practical consequences of treating economics and finance as an inherently dynamic and chaotic system. On the theoretical side this looks at the general applicability of the market-making pricing approach to…
Will a large economy be stable? Building on Robert May's original argument for large ecosystems, we conjecture that evolutionary and behavioural forces conspire to drive the economy towards marginal stability. We study networks of firms in…
Since the discovery of the first extra-solar planets, we are confronted with the puzzling diversity of planetary systems. Processes like planet radial migration in gas-disks and planetary orbital instabilities, often invoked to explain the…
We develop a dynamic model of cascading failures in a financial network whereby cross-holdings are viewed as feedback, external assets investments as inputs and failure penalties as static nonlinearities. We provide sufficient milder and…
In the following writing we discuss a conceptual framework for representing events and scenarios from the perspective of a novel form of causal analysis. This causal analysis is applied to the events and scenarios so as to determine…