Power Law Scaling for a System of Interacting Units with Complex Internal Structure
- 16 February 1998
- journal article
- research article
- Published by American Physical Society (APS) in Physical Review Letters
- Vol. 80 (7) , 1385-1388
- https://doi.org/10.1103/physrevlett.80.1385
Abstract
We study the dynamics of a system composed of interacting units each with a complex internal structure comprising many subunits and treat the case in which each subunit grows in a multiplicative manner. We propose a model for such systems in which the interaction among the units is treated in a mean field approximation and the interaction among subunits is nonlinear. We test the model and find agreement between our predictions and empirical results based on a large economics database spanning 20 years.Keywords
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