Catastrophic events that matter

Zbigniew R. Struzik 

The University of Tokyo, 7-3-1 Hongo, Bunkyo-ku, Tokyo 113-8656, Japan

Abstract

Complex dynamical systems, such as financial, ecological, social or other systems of living, interacting agents, spontaneously undergo phase transitions resulting in dramatic regime changes and catastrophic events. Under certain conditions, these events occur in the critical regime of a system's dynamics, resulting in a scale-free distribution of catastrophic event sizes. The implications of such system-size catastrophes may be irreversible in finite systems, leading to collapse and extinction of the entire financial, ecological or social system.

 

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Presentation: Invited oral at 8 Ogólnopolskie Sympozjum "Fizyka w Ekonomii i Naukach Społecznych", by Zbigniew R. Struzik
See On-line Journal of 8 Ogólnopolskie Sympozjum "Fizyka w Ekonomii i Naukach Społecznych"

Submitted: 2015-08-27 10:06
Revised:   2015-09-29 15:10