Abstract:We generalise the notion of a bubble beyond the financial domain, by showing how a single social mechanism, based on an information feedback-loop, explains both financial bubbles and other seemingly disparate social phenomena, such as the recognition of academic articles, website popularity, and the spread of rumours.We discuss examples of phenomena explained by this bubble mechanism, as well as other phenomena that exhibit certain bubble characteristics, yet are not bubbles according to our model. Finally, we… Show more
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