IDEAS home Printed from https://ideas.repec.org/a/eee/phsmap/v276y2000i3p572-580.html
   My bibliography  Save this article

Self-organization of value and demand

Author

Listed:
  • Donangelo, R
  • Sneppen, K

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 as ΔtH, with H∼0.7.

Suggested Citation

  • Donangelo, R & Sneppen, K, 2000. "Self-organization of value and demand," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 276(3), pages 572-580.
    • Handle: RePEc:eee:phsmap:v:276:y:2000:i:3:p:572-580
    DOI: 10.1016/S0378-4371(99)00473-2
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0378437199004732
    Download Restriction: Full text for ScienceDirect subscribers only. Journal offers the option of making the article available online on Science direct for a fee of $3,000
    File URL: https://libkey.io/10.1016/S0378-4371(99)00473-2?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Johann Lussange & Ivan Lazarevich & Sacha Bourgeois-Gironde & Stefano Palminteri & Boris Gutkin, 2021. "Modelling Stock Markets by Multi-agent Reinforcement Learning," Computational Economics, Springer;Society for Computational Economics, vol. 57(1), pages 113-147, January.
    2. Rothenstein, R & Pawelzik, K, 2003. "Evolution and anti-evolution in a minimal stock market model," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 326(3), pages 534-543.
    3. E. Samanidou & E. Zschischang & D. Stauffer & T. Lux, 2001. "Microscopic Models of Financial Markets," Papers cond-mat/0110354, arXiv.org.
    4. Jovanovic, Franck & Schinckus, Christophe, 2016. "Breaking down the barriers between econophysics and financial economics," International Review of Financial Analysis, Elsevier, vol. 47(C), pages 256-266.
    5. Alex Lamarche-Perrin & André Orléan & Pablo Jensen, 2018. "Coexistence of several currencies in presence of increasing returns to adoption," Post-Print hal-01531277, HAL.
    6. Alex Lamarche-Perrin & André Orléan & Pablo Jensen, 2018. "Coexistence of several currencies in presence of increasing returns to adoption," PSE-Ecole d'économie de Paris (Postprint) hal-01531277, HAL.
    7. Lamarche-Perrin, Alex & Orléan, André & Jensen, Pablo, 2018. "Coexistence of several currencies in presence of increasing returns to adoption," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 496(C), pages 612-619.
    8. Schinckus, C., 2013. "Between complexity of modelling and modelling of complexity: An essay on econophysics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 392(17), pages 3654-3665.
    9. Donangelo, R. & Hansen, A. & Sneppen, K. & Souza, S.R., 2000. "Physics of fashion fluctuations," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 287(3), pages 539-545.
    10. Lamarche-Perrin, Alex & Orléan, André & Jensen, Pablo, 2018. "Coexistence of several currencies in presence of increasing returns to adoption," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 496(C), pages 612-619.
    11. E. Samanidou & E. Zschischang & D. Stauffer & T. Lux, 2007. "Agent-based Models of Financial Markets," Papers physics/0701140, arXiv.org.
    12. Alex Lamarche-Perrin & Andr'e Orl'ean & Pablo Jensen, 2018. "Coexistence of several currencies in presence of increasing returns to adoption," Papers 1801.04218, arXiv.org.
    13. Christophe Schinckus, 2011. "What can econophysics contribute to financial economics?," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 58(2), pages 147-163, June.
    14. Jovanovic, Franck & Schinckus, Christophe, 2017. "Econophysics and Financial Economics: An Emerging Dialogue," OUP Catalogue, Oxford University Press, number 9780190205034, Decembrie.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:phsmap:v:276:y:2000:i:3:p:572-580. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.