IDEAS home Printed from https://ideas.repec.org/a/eee/phsmap/v362y2006i2p485-494.html
   My bibliography  Save this article

Endo- vs. exogenous shocks and relaxation rates in book and music “sales”

Author

Listed:
  • Lambiotte, R.
  • Ausloos, M.

Abstract

In this paper, we analyse the response of music and book sales to an external field and a buyer herding. We distinguish endogenous and exogenous shocks. We focus on some case studies, whose data have been collected from ranking on amazon.com. We show that an ensemble of equivalent systems quantitatively respond in a same way to a similar “external shock”, indicating roads to universality features. In contrast to Sornette et al. [Phys. Rev. Lett. 93 (2004) 228701] who seemed to find power-law behaviours, in particular at long times, a law interpreted in terms of an epidemic activity, we observe that the relaxation process can be as well seen as an exponential one that saturates toward an asymptotic state, itself different from the pre-shock state. By studying an ensemble of 111 shocks, on books or records, we show that exogenous and endogenous shocks are discriminated by their short-time behaviour: the relaxation time seems to be twice shorter in endogenous shocks than in exogenous ones. We interpret the finding through a simple thermodynamic model with a dissipative force.

Suggested Citation

  • Lambiotte, R. & Ausloos, M., 2006. "Endo- vs. exogenous shocks and relaxation rates in book and music “sales”," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 362(2), pages 485-494.
    • Handle: RePEc:eee:phsmap:v:362:y:2006:i:2:p:485-494
    DOI: 10.1016/j.physa.2005.08.047
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0378437105008812
    Download Restriction: Full text for ScienceDirect subscribers only. Journal offers the option of making the article available online on Science direct for a fee of $3,000
    File URL: https://libkey.io/10.1016/j.physa.2005.08.047?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Krawczyk, M.J. & Dydejczyk, A. & Kułakowski, K., 2014. "The Simmel effect and babies’ names," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 395(C), pages 384-391.
    2. Seungkyu Shin & Juyong Park, 2018. "On-Chart Success Dynamics Of Popular Songs," Advances in Complex Systems (ACS), World Scientific Publishing Co. Pte. Ltd., vol. 21(03n04), pages 1-18, May.
    3. Buda, Andrzej & Kwapień, Jarosław, 2022. "Agent-based modelling of the global phonographic market," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 598(C).
    4. Marcel Ausloos, 2013. "Econophysics: Comments on a Few Applications, Successes, Methods and Models," IIM Kozhikode Society & Management Review, , vol. 2(2), pages 101-115, July.
    5. Lambiotte, R. & Ausloos, M. & Thelwall, M., 2007. "Word statistics in Blogs and RSS feeds: Towards empirical universal evidence," Journal of Informetrics, Elsevier, vol. 1(4), pages 277-286.
    6. Marcel Ausloos, 2014. "A biased view of a few possible components when reflecting on the present decade financial and economic crisis," Papers 1412.0127, arXiv.org.
    7. Aki-Hiro Sato, 2012. "Econoinformatics meets Data-Centric Social Sciences," Papers 1210.4643, arXiv.org, revised Apr 2013.
    8. Klimek, Peter & Bayer, Werner & Thurner, Stefan, 2011. "The blogosphere as an excitable social medium: Richter’s and Omori’s Law in media coverage," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 390(21), pages 3870-3875.
    9. Ausloos, Marcel & Nedic, Olgica & Dekanski, Aleksandar, 2016. "Day of the week effect in paper submission/acceptance/rejection to/in/by peer review journals," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 456(C), pages 197-203.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:phsmap:v:362:y:2006:i:2:p:485-494. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.