Hawkins, Raymond J. - In: Physica A: Statistical Mechanics and its Applications 390 (2011) 23, pp. 4355-4369
We show how the dynamics of economic instability and financial crises articulated by Keynes in the General Theory and developed by Minsky as the Financial Instability Hypothesis can be formalized using Weidlich’s sociodynamics of opinion formation. The model addresses both the lending...