Scale-free phenomenon in industries in China |
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| Authors: | Da-Hai Tang Bo-Kui Chen Ya-Chun Gao Bing-Hong Wang |
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| Affiliation: | 1. Department of Modern Physics, University of Science and Technology of China, Hefei 230026, China;2. Division of Logistics & Transportation, Graduate School at Shenzhen, Tsinghua University, Shenzhen 518055, China;3. Department of School of Management and Economics, University of Electronic Science and Technology of China, Chengdu 611731, China;4. The Research Center for Complex System Science, University of Shanghai for Science and Technology, Shanghai 200093, China;5. Shanghai Academy of System Science, Shanghai 200093, China |
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| Abstract: | In this paper, we investigate the data of industries in China and find that the frequency distributions of fixed assets and fixed-assets’ investment of industries obey power laws. We show that these power-law modes can be explained by the rules of the Simon Model, rather than the existing investment theories such as the classical investment theory or acceleration principle. Moreover, the mechanism of the investment distribution may be similar to the forest-fire model of self-organizing criticality. By introducing the complex system methods, this research changes the traditional opinion of the investment and gains some meaningful understanding in the dynamics of industries and the economic cycle. |
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| Keywords: | Economic Industry Power-law Self-organized criticality Complexity Scale-free |
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