Yamasaki, Kazuko and Matia, Kaushik and Buldyrev, Sergey V. and Fu, Dongfeng and Pammolli, Fabio and Riccaboni, Massimo and Stanley, H. Eugene (2004): Preferential attachment and growth dynamics in complex systems. Published in: Physical Review E , Vol. 74, No. 3 (21 September 2006): 0351031-0351034.
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Abstract
Complex systems can be characterized by classes of equivalency of their elements defined according to system specific rules. We propose a generalized preferential attachment model to describe the class size distribution. The model postulates preferential growth of the existing classes and the steady influx of new classes. According to the model, the distribution changes from a pure exponential form for zero influx of new classes to a power law with an exponential cut-off form when the influx of new classes is substantial. Predictions of the model are tested through the analysis of a unique industrial database, which covers both elementary units (products) and classes (markets, firms) in a given industry (pharmaceuticals), covering the entire size distribution. The model’s predictions are in good agreement with the data. The paper sheds light on the emergence of the exponent τ ≈ 2 observed as a universal feature of many biological, social and economic problems.
Item Type: | MPRA Paper |
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Original Title: | Preferential attachment and growth dynamics in complex systems |
Language: | English |
Keywords: | Firm Growth; Pareto Distribution; Pharmaceutical Industry |
Subjects: | D - Microeconomics > D2 - Production and Organizations > D21 - Firm Behavior: Theory L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L25 - Firm Performance: Size, Diversification, and Scope D - Microeconomics > D3 - Distribution > D39 - Other L - Industrial Organization > L0 - General > L00 - General L - Industrial Organization > L6 - Industry Studies: Manufacturing > L60 - General L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L16 - Industrial Organization and Macroeconomics: Industrial Structure and Structural Change ; Industrial Price Indices L - Industrial Organization > L6 - Industry Studies: Manufacturing > L65 - Chemicals ; Rubber ; Drugs ; Biotechnology E - Macroeconomics and Monetary Economics > E1 - General Aggregative Models > E17 - Forecasting and Simulation: Models and Applications |
Item ID: | 15908 |
Depositing User: | Laknori |
Date Deposited: | 26 Jun 2009 10:58 |
Last Modified: | 28 Sep 2019 15:03 |
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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/15908 |