Academic Papers

Endogenous crisis waves: a stochastic model with synchronised collective behavior

We propose a simple framework to understand commonly observed crisis waves in macroeconomic Agent Based models, that is also relevant to a variety of other physical or biological situations where synchronisation occurs.

We compute exactly the phase diagram of the model and the location of the synchronisation transition in parameter space. Many modifications and extensions can be studied, confirming that the synchronisation transition is extremely robust against various sources of noise or imperfections.