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Bubble burst as jamming phase transition
- Source :
- Journal of Physics: Conference Series 221 (2010) p.012006
- Publication Year :
- 2010
-
Abstract
- Recently research on bubble and its burst attract much interest of researchers in various field such as economics and physics. Economists have been regarding bubble as a disorder in prices. However, this research strategy has overlooked an importance of the volume of transactions. In this paper, we have proposed a bubble burst model by focusing the transactions incorporating a traffic model that represents spontaneous traffic jam. We find that the phenomenon of bubble burst shares many similar properties with traffic jam formation by comparing data taken from US housing market. Our result suggests that the transaction could be a driving force of bursting phenomenon.<br />Comment: 9 pages,12 figures
- Subjects :
- Physics - Physics and Society
Subjects
Details
- Database :
- arXiv
- Journal :
- Journal of Physics: Conference Series 221 (2010) p.012006
- Publication Type :
- Report
- Accession number :
- edsarx.1007.4437
- Document Type :
- Working Paper
- Full Text :
- https://doi.org/10.1088/1742-6596/221/1/012006