英文标题：
《Three Different Ways Synchronization Can Cause Contagion in Financial
Markets》
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作者：
Naji Massad and J{\\o}rgen Vitting Andersen
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最新提交年份：
2019
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英文摘要：
We introduce tools to capture the dynamics of three different pathways, in which the synchronization of human decision-making could lead to turbulent periods and contagion phenomena in financial markets. The first pathway is caused when stock market indices, seen as a set of coupled integrate-and-fire oscillators, synchronize in frequency. The integrate-and-fire dynamics happens due to change blindness, a trait in human decision-making where people have the tendency to ignore small changes, but take action when a large change happens. The second pathway happens due to feedback mechanisms between market performance and the use of certain (decoupled) trading strategies. The third pathway occurs through the effects of communication and its impact on human decision-making. A model is introduced in which financial market performance has an impact on decision-making through communication between people. Conversely, the sentiment created via communication has an impact on financial market performance. The methodologies used are: agent based modeling, models of integrate-and-fire oscillators, and communication models of human decision-making
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中文摘要：
我们引入工具来捕捉三种不同路径的动态，其中人类决策的同步可能导致金融市场的动荡期和传染现象。第一种途径是当股票市场指数被视为一组耦合的积分和火焰振荡器，在频率上同步时产生的。整合和火的动力是由于变化盲目性而产生的，这是人类决策中的一个特点，人们倾向于忽略小的变化，但在发生大的变化时采取行动。第二种途径是由于市场表现与某些（解耦）交易策略的使用之间的反馈机制。第三种途径是通过沟通的效果及其对人类决策的影响来实现的。引入了一个模型，其中金融市场绩效通过人与人之间的沟通对决策产生影响。相反，通过沟通产生的情绪会对金融市场表现产生影响。所使用的方法有：基于代理的建模、集成和火灾振荡器模型以及人类决策的通信模型
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分类信息：

一级分类：Quantitative Finance 数量金融学
二级分类：General Finance 一般财务
分类描述：Development of general quantitative methodologies with applications in finance
通用定量方法的发展及其在金融中的应用
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一级分类：Physics 物理学
二级分类：Data Analysis, Statistics and Probability 数据分析、统计与概率
分类描述：Methods, software and hardware for physics data analysis: data processing and storage; measurement methodology; statistical and mathematical aspects such as parametrization and uncertainties.
物理数据分析的方法、软硬件：数据处理与存储；测量方法；统计和数学方面，如参数化和不确定性。
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