Rodgers, G.J.; Zheng, Dafang - In: Physica A: Statistical Mechanics and its Applications 308 (2002) 1, pp. 375-380
We introduce and solve a model that mimics the herding effect in financial markets when groups of agents share information. The number of agents in the model is growing and at each time step either: (i) with probability p an incoming agent joins an existing group, or (ii) with probability 1−p...