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Toy models and stylized realities

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  • M. Marsili

Abstract

I discuss the role of toy models as theoretical tools for understanding complex systems of interacting agents. I review some concrete examples, in order to illustrate how this approach is able to capture, though in an admittedly stylized way, the interactions and non-linearities which are responsible for the rich phenomenology observed in reality. This allows one to interpret the system's behavior in terms of phase transitions and critical phenomena. Copyright EDP Sciences/Società Italiana di Fisica/Springer-Verlag 2007

Suggested Citation

  • M. Marsili, 2007. "Toy models and stylized realities," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 55(2), pages 169-173, January.
    • Handle: RePEc:spr:eurphb:v:55:y:2007:i:2:p:169-173
    DOI: 10.1140/epjb/e2006-00237-3
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    Cited by:

    1. Lye, Ribin & Tan, James Peng Lung & Cheong, Siew Ann, 2012. "Understanding agent-based models of financial markets: A bottom–up approach based on order parameters and phase diagrams," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 391(22), pages 5521-5531.

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