2011
DOI: 10.1073/pnas.1105239108
|View full text |Cite
|
Sign up to set email alerts
|

Herd behavior in a complex adaptive system

Abstract: In order to survive, self-serving agents in various kinds of complex adaptive systems (CASs) must compete against others for sharing limited resources with biased or unbiased distribution by conducting strategic behaviors. This competition can globally result in the balance of resource allocation. As a result, most of the agents and species can survive well. However, it is a common belief that the formation of a herd in a CAS will cause excess volatility, which can ruin the balance of resource allocation in th… Show more

Help me understand this report

Search citation statements

Order By: Relevance

Paper Sections

Select...
2
1

Citation Types

1
72
0

Year Published

2012
2012
2023
2023

Publication Types

Select...
10

Relationship

0
10

Authors

Journals

citations
Cited by 76 publications
(73 citation statements)
references
References 17 publications
(17 reference statements)
1
72
0
Order By: Relevance
“…The origin of collective dynamics and LRCCs based on local interactions often appears elusive (20), and is the focus of current research (19, 21). Of particular interest are the rules of interactions of the individuals in a crowd (22, 23) and transitions to synchronized behavior (16,24). We introduce a stochastic model for mutually interacting complex systems (MICS) that generates LRCCs and provides a physiologically motivated explanation for the surprising presence of longterm memory in the cross-correlations of musical performances.…”
mentioning
confidence: 99%
“…The origin of collective dynamics and LRCCs based on local interactions often appears elusive (20), and is the focus of current research (19, 21). Of particular interest are the rules of interactions of the individuals in a crowd (22, 23) and transitions to synchronized behavior (16,24). We introduce a stochastic model for mutually interacting complex systems (MICS) that generates LRCCs and provides a physiologically motivated explanation for the surprising presence of longterm memory in the cross-correlations of musical performances.…”
mentioning
confidence: 99%
“…Mt, 73.21.Cd Understanding the interplay between the properties of individual objects and their collective behavior is of fundamental interest in many fields [1][2][3][4]. It explains, for example, jamming and pattern formation in granular systems [1,[5][6][7], dynamical heterogeneity in phase transitions [3], tunneling dynamics and quantum phases in cold atoms [8,9], and the synchronization of networks and complex adaptive systems [2,10]. Moreover, interactions between particles play a key role in determining the structures formed when the particles come into contact [4].…”
mentioning
confidence: 99%
“…And the combination of these two methods to examine the same phenomenon is also shown to be a successful approach [34][35][36][37][38][39][40][41][42]. Thanks to these preceding researches by both economists and econophysicists mentioned above, we are able to raise the inspirations and ideas in combining the two methods to give a new point of view on the effect of leverage.…”
Section: Introductionmentioning
confidence: 96%