Socioeconophysics: Opinion dynamics for number of transactions and price, a trader based model

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Tuncay C.

INTERNATIONAL JOURNAL OF MODERN PHYSICS C, vol.17, no.10, pp.1495-1500, 2006 (SCI-Expanded) identifier identifier


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 axe taken into account. Resulting time series and probabilty distribution function involving a power law for price come out similar to the real ones.