Anatomy of extreme events in a complex adaptive system

Large changes tend to dictate the long-term dynamical behaviour of many real-world complex systems in both the natural and social sciences. We provide an analytic, microscopic analysis of extreme events arising in an adaptive population comprising competing agents (e.g. species, cells, traders, data-packets). Our results reveal a taxonomy of such extreme events, and provide a microscopic understanding as to their build-up and likely duration.

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Year of publication:	2003
Authors:	Jefferies, P. ; Lamper, D. ; Johnson, N.F.
Published in:	Physica A: Statistical Mechanics and its Applications. - Elsevier, ISSN 0378-4371. - Vol. 318.2003, 3, p. 592-600
Publisher:	Elsevier
Subject:	Adaptive systems \| Agents \| Extreme events \| Self-organization

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010590789