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
SN - 0960-0779
VL - 11
SP - 1739
EP - 1746
JO - Chaos, Solitons and Fractals
JF - Chaos, Solitons and Fractals
IS - 11
ER -