2006/04/21 by Caglar Tuncay, ÇAĞLAR TUNCAY
Decision Sciences · Economics, Econometrics and Finance · Physics and Astronomy · #Complex Systems and Time Series Analysis #Game Theory and Applications #Opinion Dynamics and Social Influence #physics.soc-ph
paper · pdf · doi:10.1142/s0129183106009667
will be published in IJMPC 17 (2006)
arxiv created 2006/04/21 · openalex publication_date 2006/10/01 · arxiv updated 2009/12/01 · openalex created_date 2016/06/24 · openalex updated_date 2026/07/28
Involving effects of media, opinion leader and other agents on the opinion of individuals of market society, a trader based model is developed and utilized to simulate price via supply and demand. Pronounced effects are considered with several weights and some personal differences between traders are taken into account. Resulting time series and probabilty distribution function involving a power law for price come out similar to the real ones.