Neural mass models is a general name for various models describing the collective dynamics of large neural populations in terms of averaged macroscopic variables. Recently, the so-called next-generation neural mass models have attracted a lot of attention due to their ability to account for the degree of synchrony. Being exact in the limit of infinitely large number of neurons, these models provide only an approximate description of finite-size networks. In the present Letter we study finite-size effects in the collective behavior of neural networks and prove that these effects can be captured by appropriately modified neural mass models. Namely, we show that the finite size of the network leads to the emergence of the so-called shot noise appearing as a stochastic term in the neural mass model. The power spectrum of this shot noise contains pronounced peaks, therefore its impact on the collective dynamics might be crucial due to resonance effects.

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• Collective dynamics
• Neuronal dynamics