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Dynamic effects of social influence on asset prices

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Bibliographic Details
Main Authors: Jia-Ping, Huang, Yang, Zhang, Juanxi, Wang
Format: Book
Language:English
Published: Springer 2023
Subjects:
dynamic effects of Social Influence
asset prices
Online Access:https://dlib.phenikaa-uni.edu.vn/handle/PNK/7754
https://link.springer.com/article/10.1007/s11403-023-00382-z
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spelling oai:localhost:PNK-77542023-04-11T03:41:09Z Dynamic effects of social influence on asset prices Jia-Ping, Huang Yang, Zhang Juanxi, Wang dynamic effects of Social Influence asset prices CC BY This paper examines the dynamic effects of Social Influence on asset prices in the presence of heterogeneous expectations among investors. In our model, the choices of investors’ trading strategies are influenced not only by past payoffs but also by their neighbors’ choices in the social network. To obtain tractable results with generic implications for social structure, we use a mean-field approximation approach rather than specifying the exact structure of social network. Analytical conditions for the existence and local stability of equilibria of price dynamics are established and validated through numerical simulations. Our analysis shows that social influence increases the dimension of the dynamical system and that equilibria can only be expressed implicitly as solutions of certain equations. We also investigate the long-run behavior of price and fraction of trading strategies using numerical simulation under a scale-free network and a power function type social influence factor. 2023-04-11T03:39:29Z 2023-04-11T03:39:29Z 2023 Book https://dlib.phenikaa-uni.edu.vn/handle/PNK/7754 https://link.springer.com/article/10.1007/s11403-023-00382-z en application/pdf Springer
institution Digital Phenikaa
collection Digital Phenikaa
language English
topic dynamic effects of Social Influence
asset prices
spellingShingle dynamic effects of Social Influence
asset prices
Jia-Ping, Huang
Yang, Zhang
Juanxi, Wang
Dynamic effects of social influence on asset prices
description CC BY
format Book
author Jia-Ping, Huang
Yang, Zhang
Juanxi, Wang
author_facet Jia-Ping, Huang
Yang, Zhang
Juanxi, Wang
author_sort Jia-Ping, Huang
title Dynamic effects of social influence on asset prices
title_short Dynamic effects of social influence on asset prices
title_full Dynamic effects of social influence on asset prices
title_fullStr Dynamic effects of social influence on asset prices
title_full_unstemmed Dynamic effects of social influence on asset prices
title_sort dynamic effects of social influence on asset prices
publisher Springer
publishDate 2023
url https://dlib.phenikaa-uni.edu.vn/handle/PNK/7754
https://link.springer.com/article/10.1007/s11403-023-00382-z
_version_ 1762909083393851392
score 8.891145

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