title: Endogenous crisis waves: stochastic model with synchronized collective behavior.
abstract: We propose a simple framework to understand commonly observed crisis waves in macroeconomic agent-based models, which is also relevant to a variety of other physical or biological situations where synchronization occurs. We compute exactly the phase diagram of the model and the location of the synchronization transition in parameter space. Many modifications and extensions can be studied, confirming that the synchronization transition is extremely robust against various sources of noise or imperfections.
authors.affiliation: Université Pierre et Marie Curie-Paris 6, Laboratoire de Physique Théorique de la Matière Condensée, 4, Place Jussieu, Tour 12, 75252 Paris Cedex 05, France.|IRAMIS, CEA-Saclay, 91191 Gif sur Yvette Cedex, France.
authors.forename: Stanislao
authors.initials: S
authors.lastname: Gualdi
authors.affiliation: CFM, 23 rue de l'Université, 75007 Paris, France, and Ecole Polytechnique, 91120 Palaiseau, France.
authors.forename: Jean-Philippe
authors.initials: JP
authors.lastname: Bouchaud
authors.affiliation: Laboratoire de Physique Théorique, École Normale Supérieure, UMR 8549 CNRS, 24 Rue Lhomond, 75231 Paris Cedex 05, France.
authors.forename: Giulia
authors.initials: G
authors.lastname: Cencetti
authors.affiliation: Université Pierre et Marie Curie-Paris 6, Laboratoire de Physique Théorique de la Matière Condensée, 4, Place Jussieu, Tour 12, 75252 Paris Cedex 05, France.
authors.forename: Marco
authors.initials: M
authors.lastname: Tarzia
authors.affiliation: Laboratoire de Physique Théorique, École Normale Supérieure, UMR 8549 CNRS, 24 Rue Lhomond, 75231 Paris Cedex 05, France.
authors.forename: Francesco
authors.initials: F
authors.lastname: Zamponi