Rawal, S.; Rodgers, G.J. - In: Physica A: Statistical Mechanics and its Applications 344 (2004) 1, pp. 50-55
We discuss various existing models which mimic the herding effect in financial markets and introduce a new model of herding which incorporates both growth and coagulation. In this model, at each time step either (i) with probability p the system grows through the introduction of a new agent or...