Abstract
We show that preferential rewiring, which is supposed to mimic the behavior of financial agents, changes a directed-network Ising ferromagnet with a single critical point into a model with robust critical behavior. For the nonrewired random graph version, due to a constant number of out-links for each site, we write a simple mean-field-like equation describing the behavior of magnetization; we argue that it is exact and support the claim with extensive Monte Carlo simulations. For the rewired version, this equation is obeyed only at low temperatures. At higher temperatures, rewiring leads to strong heterogeneities, which apparently invalidates mean-field arguments and induces large fluctuations and divergent susceptibility. Such behavior is traced back to the formation of a relatively small core of agents that influence the entire system.
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