Criticality and punctuated equilibrium in a spin system model of a financial market

A. Ponzi, Y. Aizawa

Research output: Contribution to journalArticle

12 Citations (Scopus)

Abstract

Recent works on self-organized criticality (SOC) in pulse coupled relaxation oscillators have shown SOC to be related to frustrated attempts of the system to synchronize. Criticality has also been connected to punctuated equilibrium behaviour. We describe a model which shows a non-equilibrium phase transition and seems to link these two ideas. Near the transition, punctuated equilibrium behaviour is seen, with avalanches occurring on all scales. This scaling is described by an exponent very near 1.

Original languageEnglish
Pages (from-to)1739-1746
Number of pages8
JournalChaos, Solitons and Fractals
Volume11
Issue number11
DOIs
Publication statusPublished - 2000 Sep

Fingerprint

Self-organized Criticality
Spin Systems
Criticality
Financial Markets
relaxation oscillators
Nonequilibrium Phase Transitions
Avalanche
avalanches
Exponent
exponents
Scaling
scaling
pulses
Model

ASJC Scopus subject areas

  • Statistical and Nonlinear Physics

Cite this

Criticality and punctuated equilibrium in a spin system model of a financial market. / Ponzi, A.; Aizawa, Y.

In: Chaos, Solitons and Fractals, Vol. 11, No. 11, 09.2000, p. 1739-1746.

Research output: Contribution to journalArticle

@article{fcd51eae87d9453d9aa52c424a8d50ec,
title = "Criticality and punctuated equilibrium in a spin system model of a financial market",
abstract = "Recent works on self-organized criticality (SOC) in pulse coupled relaxation oscillators have shown SOC to be related to frustrated attempts of the system to synchronize. Criticality has also been connected to punctuated equilibrium behaviour. We describe a model which shows a non-equilibrium phase transition and seems to link these two ideas. Near the transition, punctuated equilibrium behaviour is seen, with avalanches occurring on all scales. This scaling is described by an exponent very near 1.",
author = "A. Ponzi and Y. Aizawa",
year = "2000",
month = "9",
doi = "10.1016/S0960-0779(99)00048-X",
language = "English",
volume = "11",
pages = "1739--1746",
journal = "Chaos, Solitons and Fractals",
issn = "0960-0779",
publisher = "Elsevier Limited",
number = "11",

}

TY - JOUR

T1 - Criticality and punctuated equilibrium in a spin system model of a financial market

AU - Ponzi, A.

AU - Aizawa, Y.

PY - 2000/9

Y1 - 2000/9

N2 - Recent works on self-organized criticality (SOC) in pulse coupled relaxation oscillators have shown SOC to be related to frustrated attempts of the system to synchronize. Criticality has also been connected to punctuated equilibrium behaviour. We describe a model which shows a non-equilibrium phase transition and seems to link these two ideas. Near the transition, punctuated equilibrium behaviour is seen, with avalanches occurring on all scales. This scaling is described by an exponent very near 1.

AB - Recent works on self-organized criticality (SOC) in pulse coupled relaxation oscillators have shown SOC to be related to frustrated attempts of the system to synchronize. Criticality has also been connected to punctuated equilibrium behaviour. We describe a model which shows a non-equilibrium phase transition and seems to link these two ideas. Near the transition, punctuated equilibrium behaviour is seen, with avalanches occurring on all scales. This scaling is described by an exponent very near 1.

UR - http://www.scopus.com/inward/record.url?scp=0033727672&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=0033727672&partnerID=8YFLogxK

U2 - 10.1016/S0960-0779(99)00048-X

DO - 10.1016/S0960-0779(99)00048-X

M3 - Article

AN - SCOPUS:0033727672

VL - 11

SP - 1739

EP - 1746

JO - Chaos, Solitons and Fractals

JF - Chaos, Solitons and Fractals

SN - 0960-0779

IS - 11

ER -