English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Zendy Plus

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Zendy Tools

Zendy Open

We introduce a stochastic heterogeneous interacting-agent model for theshort-time non-equilibrium evolution of excess demand and price in a stylizedasset market. We consider a combination of social interaction within peergroups and individually heterogeneous fundamentalist trading decisions whichtake into account the market price and the perceived fundamental value of theasset. The resulting excess demand is coupled to the market price. Rigorousanalysis reveals that this feedback may lead to price oscillations, a singlebounce, or monotonic price behaviour. The model is a rare example of ananalytically tractable interacting-agent model which allows us to deduce indetail the origin of these different collective patterns. For a natural choiceof initial distribution the results are independent of the graph structure thatmodels the peer network of agents whose decisions influence each other.

Short-time behaviour of demand and price viewed through an exactly solvable model for heterogeneous interacting market agents