Self-organization of value and demand

R Donangelo and K Sneppen

Physica A: Statistical Mechanics and its Applications, 2000, vol. 276, issue 3, 572-580

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.

Date: 2000
References: View complete reference list from CitEc
Citations: View citations in EconPapers (16)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0378437199004732
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

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:276:y:2000:i:3:p:572-580

DOI: 10.1016/S0378-4371(99)00473-2

Access Statistics for this article

Physica A: Statistical Mechanics and its Applications is currently edited by K. A. Dawson, J. O. Indekeu, H.E. Stanley and C. Tsallis

More articles in Physica A: Statistical Mechanics and its Applications from Elsevier
Bibliographic data for series maintained by Catherine Liu ().