Gupta, Abhijit Kar - In: Physica A: Statistical Mechanics and its Applications 391 (2012) 4, pp. 1509-1514
This work is primarily based on a recently proposed toy model by Thurner et al. (2010) [3] on Schumpeterian economic dynamics (inspired by the idea of economist Joseph Schumpeter [9]). Interestingly, punctuated equilibrium has been shown to emerge from the dynamics. The punctuated equilibrium...