Toy models and stylized realities

M. Marsili ()

The European Physical Journal B: Condensed Matter and Complex Systems, 2007, vol. 55, issue 2, 169-173

Abstract: I discuss the role of toy models as theoretical tools for understanding complex systems of interacting agents. I review some concrete examples, in order to illustrate how this approach is able to capture, though in an admittedly stylized way, the interactions and non-linearities which are responsible for the rich phenomenology observed in reality. This allows one to interpret the system's behavior in terms of phase transitions and critical phenomena. Copyright EDP Sciences/Società Italiana di Fisica/Springer-Verlag 2007

Keywords: 89.65.-s Social and economic systems, 05.70.Fh Phase transitions: general studies, 05.70.Jk Critical point phenomena, 89.65.Gh Economics; econophysics, financial markets, business and management, (search for similar items in EconPapers)
Date: 2007
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:spr:eurphb:v:55:y:2007:i:2:p:169-173

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DOI: 10.1140/epjb/e2006-00237-3

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