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Abstract: Recently research on bubble and its burst attract much interest ofresearchers in various field such as economics and physics. Economists havebeen regarding bubble as a disorder in prices. However, this research strategyhas overlooked an importance of the volume of transactions. In this paper, wehave proposed a bubble burst model by focusing the transactions incorporating atraffic model that represents spontaneous traffic jam. We find that thephenomenon of bubble burst shares many similar properties with traffic jamformation by comparing data taken from US housing market. Our result suggeststhat the transaction could be a driving force of bursting phenomenon.



Autor: Katsuhiro Nishinari, Mitsuru Iwamura, Yukiko Umeno Saito, Tsutomu Watanabe

Fuente: https://arxiv.org/







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