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|dc.identifier.citation||Physica A: Statistical Mechanics and its Applications 344 (1-2): 50-55, Dec 2004||en|
|dc.description.abstract||We discuss various existing models which mimic the herding effect in financial markets and introduce a new model of herding which incorporates both growth and coagulation. In this model, at each time step either (i) with probability p the system grows through the introduction of a new agent or (ii) with probability q=1-p two groups are selected at random and coagulate. We show that the size distribution of these groups has a power law tail with an exponential cut-off. A variant of our basic model is also discussed where rates are proportional to the size of a group||en|
|dc.title||Growth and Coagulation in a Herding Model||en|
|Appears in Collections:||Mathematical Physics|
Dept of Mathematics Research Papers
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