Temporal Effects of Agent Aggregation in the Dynamics of Multiagent   Systems
  We propose a model of multiagent systems whose agents have a tendency to balance their decisions in time. We find phase transitions to oscillatory behavior, explainable by the aggregation of agents into two groups. On a longer time scale, we find that the aggregation of smart agents is able to explain the lifetime distribution of epochs to 8 decades of probability. 
C. H. Yeung and K. Y. Michael Wong