Dynamic effects of social influence on asset prices
CC BY
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| Định dạng: | Sách |
| Ngôn ngữ: | English |
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Springer
2023
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| Truy cập trực tuyến: | https://dlib.phenikaa-uni.edu.vn/handle/PNK/7754 https://link.springer.com/article/10.1007/s11403-023-00382-z |
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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 |
8.891695 |