Self-organization of value and demand

Authors
Donangelo, R Sneppen, K
Citation
R. Donangelo et K. Sneppen, Self-organization of value and demand, PHYSICA A, 276(3-4), 2000, pp. 572-580
Citations number
22
Categorie Soggetti
Physics
Journal title
PHYSICA A
ISSN journal
03784371 → ACNP
Volume
276
Issue
3-4
Year of publication
2000
Pages
572 - 580
Database
ISI
SICI code
0378-4371(20000215)276:3-4<572:SOVAD>2.0.ZU;2-#
Abstract
We study the dynamics of exchange value in a system composed of many intera cting agents. The simple model we propose exhibits cooperative emergence an d collapse of global value for individual goods. We demonstrate that the de mand that drives the value exhibits non-Gaussian "fat tails" and typical fl uctuations which grow with time interval as Delta t(H), with H similar to 0 .7. (C) 2000 Elsevier Science B.V. All rights reserved.