Endogenous Crisis Waves: A Stochastic Model with Synchronized Collective Behavior

Endogenous crisis waves: stochastic model with synchronized collective behavior.

We propose a simple framework to understand commonly observed crisis waves in macroeconomic agent-based models, which is also relevant to a variety of other physical or biological situations where synchronization occurs. We compute exactly the phase diagram of the model and the location of the synchronization transition in parameter space. Many modifications and extensions can be studied, confi...

Collective behavior of stabilized reaction-diffusion waves.

Stabilized wave segments in the photosensitive Belousov-Zhabotinsky reaction are directionally controlled with intensity gradients in the applied illumination. The constant-velocity waves behave like self-propelled particles, and multiple waves interact via an applied interaction potential. Alignment arises from the intrinsic properties of the interacting waves, leading to processional and rota...

A Model of Collective Behavior

This paper theoretically investigates how community approval or disapproval affects school attendance and child labor and how aggregate behavior of the community feeds back towards the formation and persistence of an anti(or pro-) schooling norm. The proposed community-model continues to take aggregate and idiosyncratic poverty into account as an important driver of low school attendance and ch...

Simulating The Collective Behavior of Schooling Fish With A Discrete Stochastic Model

Merger waves: A model of endogenous mergers

We develop a model of endogenous mergers to study their dynamic process. Firms choose whether, when, and with whom to merge. Two necessary conditions are identi…ed for mergers to occur: …rm heterogeneity and negative demand shocks. We show that mergers are strategic complements and therefore tend to occur in waves. Moreover, some mergers occur for strategic reasons in order to precipitate furth...