Reply to Comment on ``Thermal Model for Adaptive Competition in a Market''

We reply to the Comment of Challet et al. [cond-mat/0004308] on our paper [Phys. Rev. Lett. 83, 4429 (1999)]. We show that the claim of the Comment that the effects of the temperature in the Thermal Minority Game ``can be eliminated by time rescaling'' and consequently the behaviour is ``independent of T'' has no general validity.Comment: 1 page, 1 figur

On the High-dimensional Bak-Sneppen model

We report on extensive numerical simulations on the Bak-Sneppen model in high dimensions. We uncover a very rich behavior as a function of dimensionality. For d>2 the avalanche cluster becomes fractal and for d \ge 4 the process becomes transient. Finally the exponents reach their mean field values for d=d_c=8, which is then the upper critical dimension of the Bak Sneppen model.Comment: 4 pages, 3 eps figure

Theory of Self-organized Criticality for Problems with Extremal Dynamics

We introduce a general theoretical scheme for a class of phenomena characterized by an extremal dynamics and quenched disorder. The approach is based on a transformation of the quenched dynamics into a stochastic one with cognitive memory and on other concepts which permit a mathematical characterization of the self-organized nature of the avalanche type dynamics. In addition it is possible to compute the relevant critical exponents directly from the microscopic model. A specific application to Invasion Percolation is presented but the approach can be easily extended to various other problems.Comment: 11 pages Latex (revtex), 3 postscript figures included. Submitted to Europhys. Let

Financial instability from local market measures

We study the emergence of instabilities in a stylized model of a financial market, when different market actors calculate prices according to different (local) market measures. We derive typical properties for ensembles of large random markets using techniques borrowed from statistical mechanics of disordered systems. We show that, depending on the number of financial instruments available and on the heterogeneity of local measures, the market moves from an arbitrage-free phase to an unstable one, where the complexity of the market - as measured by the diversity of financial instruments - increases, and arbitrage opportunities arise. A sharp transition separates the two phases. Focusing on two different classes of local measures inspired by real markets strategies, we are able to analytically compute the critical lines, corroborating our findings with numerical simulations.Comment: 17 pages, 4 figure

Laplacian Fractal Growth in Media with Quenched Disorder

We analyze the combined effect of a Laplacian field and quenched disorder for the generation of fractal structures with a study, both numerical and theoretical, of the quenched dielectric breakdown model (QDBM). The growth dynamics is shown to evolve from the avalanches of invasion percolation (IP) to the smooth growth of Laplacian fractals, i. e. diffusion limited aggregation (DLA) and the dielectric breakdown model (DBM). The fractal dimension is strongly reduced with respect to both DBM and IP, due to the combined effect of memory and field screening. This implies a specific relation between the fractal dimension of the breakdown structures (dielectric or mechanical) and the microscopic properties of disordered materials.Comment: 11 pages Latex (revtex), 3 postscript figures included. Submitted to PR

Timing performance of 30-nm-wide superconducting nanowire avalanche photodetectors

We investigated the timing jitter of superconducting nanowire avalanche photodetectors (SNAPs, also referred to as cascade switching superconducting single photon detectors) based on 30-nm-wide nanowires. At bias currents (IB) near the switching current, SNAPs showed sub 35 ps FWHM Gaussian jitter similar to standard 100 nm wide superconducting nanowire single-photon detectors. At lower values of IB, the instrument response function (IRF) of the detectors became wider, more asymmetric, and shifted to longer time delays. We could reproduce the experimentally observed IRF time-shift in simulations based on an electrothermal model, and explain the effect with a simple physical picture

Generalized Dielectric Breakdown Model

We propose a generalized version of the Dielectric Breakdown Model (DBM) for generic breakdown processes. It interpolates between the standard DBM and its analog with quenched disorder, as a temperature like parameter is varied. The physics of other well known fractal growth phenomena as Invasion Percolation and the Eden model are also recovered for some particular parameter values. The competition between different growing mechanisms leads to new non-trivial effects and allows us to better describe real growth phenomena. Detailed numerical and theoretical analysis are performed to study the interplay between the elementary mechanisms. In particular, we observe a continuously changing fractal dimension as temperature is varied, and report an evidence of a novel phase transition at zero temperature in absence of an external driving field; the temperature acts as a relevant parameter for the ``self-organized'' invasion percolation fixed point. This permits us to obtain new insight into the connections between self-organization and standard phase transitions.Comment: Submitted to PR

Generalized strategies in the Minority Game

We show analytically how the fluctuations (i.e. standard deviation) in the Minority Game (MG) can be made to decrease below the random coin-toss limit if the agents use more general behavioral strategies. This suppression of the standard deviation results from a cancellation between the actions of a crowd, in which agents act collectively and make the same decision, and an anticrowd in which agents act collectively by making the opposite decision to the crowd.Comment: Revised manuscript: a few minor typos corrected. Results unaffecte

Nonequilibrium phase transition in a model for social influence

We present extensive numerical simulations of the Axelrod's model for social influence, aimed at understanding the formation of cultural domains. This is a nonequilibrium model with short range interactions and a remarkably rich dynamical behavior. We study the phase diagram of the model and uncover a nonequilibrium phase transition separating an ordered (culturally polarized) phase from a disordered (culturally fragmented) one. The nature of the phase transition can be continuous or discontinuous depending on the model parameters. At the transition, the size of cultural regions is power-law distributed.Comment: 5 pages, 4 figure