Herd behavior in Economics can be fruitfully represented by a generalization of the well-known Ehrenfest urn model to correlated clustering. Some typical cases like Kirman ants, or bulls and bears in financial markets, or clustering of agents in open markets, are treated as evolution of the Ehrenfest model.
An exact physical approach for herd behavior / U., Garibaldi; M. A., Penco; Viarengo, Paolo. - (2001). (Intervento presentato al convegno 6th Workshop on Economics with Heterogeneous Interacting Agents tenutosi a Maastricht, The Netherlands nel 7-9/6/2001).
An exact physical approach for herd behavior
VIARENGO, PAOLO
2001
Abstract
Herd behavior in Economics can be fruitfully represented by a generalization of the well-known Ehrenfest urn model to correlated clustering. Some typical cases like Kirman ants, or bulls and bears in financial markets, or clustering of agents in open markets, are treated as evolution of the Ehrenfest model.File in questo prodotto:
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