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Modelling widely scattered states in ‘synchronized’ traffic flow and possible relevance for stock market dynamics

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  • Helbing, Dirk
  • Batic, Davide
  • Schönhof, Martin
  • Treiber, Martin

Abstract

Traffic flow at low densities (free traffic) is characterized by a quasi-one-dimensional relation between traffic flow and vehicle density, while no such fundamental diagram exists for ‘synchronized’ congested traffic flow. Instead, a two-dimensional area of widely scattered flow-density data is observed as a consequence of a complex traffic dynamics. For an explanation of this phenomenon and transitions between the different traffic phases, we propose a new class of molecular-dynamics like microscopic traffic models based on times to collisions and discuss the properties by means of analytical arguments. Similar models may help to understand the laminar and turbulent phases in the dynamics of stock markets as well as the transitions among them.

Suggested Citation

  • Helbing, Dirk & Batic, Davide & Schönhof, Martin & Treiber, Martin, 2002. "Modelling widely scattered states in ‘synchronized’ traffic flow and possible relevance for stock market dynamics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 303(1), pages 251-260.
    • Handle: RePEc:eee:phsmap:v:303:y:2002:i:1:p:251-260
    DOI: 10.1016/S0378-4371(01)00483-6
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    References listed on IDEAS

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    1. Wagner, Christoph, 1998. "Asymptotic solutions for a multi-anticipative car-following model," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 260(1), pages 218-224.
    2. Thomas Lux & Michele Marchesi, 1999. "Scaling and criticality in a stochastic multi-agent model of a financial market," Nature, Nature, vol. 397(6719), pages 498-500, February.
    3. Nelson, Paul & Sopasakis, Alexandros, 1998. "The prigogine-herman kinetic model predicts widely scattered traffic flow data at high concentrations," Transportation Research Part B: Methodological, Elsevier, vol. 32(8), pages 589-604, November.
    4. Gipps, P.G., 1981. "A behavioural car-following model for computer simulation," Transportation Research Part B: Methodological, Elsevier, vol. 15(2), pages 105-111, April.
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    Cited by:

    1. He, Shuyan & Guan, Wei & Song, Liying, 2010. "Explaining traffic patterns at on-ramp vicinity by a driver perception model in the framework of three-phase traffic theory," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(4), pages 825-836.

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