Self-Organized Criticality in a Transient System

Abstract

A simple model economy with locally interacting producers and consumers is introduced. When driven by extremal dynamics, the model self-organizes {\em not} to an attractor state, but to an asymptote, on which the economy has a constant rate of deflation, is critical, and exhibits avalanches of activity with power-law distributed sizes. This example demonstrates that self-organized critical behavior occurs in a larger class of systems than so far considered: systems not driven to an attractive fixed point, but, e.g., an asymptote, may also display self-organized criticality.

4 pages (incl. 4 figures)

References in corpus (3)

• The Dynamics of Money
• Invasion Percolation with Temperature and the Nature of SOC in Real Systems
• Temperature scaling, glassiness and stationarity in the Bak-Sneppen model

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