Critical fluctuations in a random network model

Makoto Nirei

Physica A: Statistical Mechanics and its Applications, 1999, vol. 269, issue 1, 16-23

Abstract: Individual threshold behaviors generate large endogenous fluctuations in a globally interactive network. In a version of NK models, the bonds are allowed to be allocated randomly across nodes in each period. It is shown that the aggregate output asymptotically follows a branching process with martingale property on a unique globally stable state.

Keywords: Self-organized criticality; Random network; Threshold dynamics; Business cycle (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:269:y:1999:i:1:p:16-23

DOI: 10.1016/S0378-4371(99)00075-8

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