Physics – Physics and Society
Scientific paper
2006-04-21
Physics
Physics and Society
will be published in IJMPC 17 (2006)
Scientific paper
10.1142/S0129183106009667
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.
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