一个实验性期货交易所的网络拓扑结构

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摘要翻译：
许多不同性质的系统都表现出无标度行为。经济系统中财富的幂律分布就是其中的一个例子。为了更好地理解复杂性背后的作用，我们进行了一项实证研究，测量市场参与者之间的相互作用。设置了一个Web服务器来管理期货合约的交换，其清算价格与事件结果相耦合。在免费注册后，参与者开始交易，在实验结束时，在期货合约到期时争夺奖金。演变中的“现金”流动网络是从参与者之间的交易中重建的。结果表明，该网络拓扑是分层的、不协调的、无标度的，其度分布的幂律指数为1.02+-0.09。小世界性质出现在实验的早期，而参与者的数量仍然很少。我们也给出了净收入和交易时间间隔的幂律分布。大赢家和大输家的关联度高，中间中心度高，聚类系数低，关联度低。我们将网络中的社区确定为志同道合的群体。群落规模呈幂律分布，指数为1.19+-0.16。
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英文标题：
《Network Topology of an Experimental Futures Exchange》
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作者：
S.C. Wang, J.J. Tseng, C.C. Tai, K.H. Lai, W.S. Wu, S.H. Chen, S.P. Li
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最新提交年份：
2007
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分类信息：

一级分类：Quantitative Finance        数量金融学
二级分类：Statistical Finance        统计金融
分类描述：Statistical, econometric and econophysics analyses with applications to financial markets and economic data
统计、计量经济学和经济物理学分析及其在金融市场和经济数据中的应用
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一级分类：Physics        物理学
二级分类：Physics and Society        物理学与社会
分类描述：Structure, dynamics and collective behavior of societies and groups (human or otherwise). Quantitative analysis of social networks and other complex networks. Physics and engineering of infrastructure and systems of broad societal impact (e.g., energy grids, transportation networks).
社会和团体（人类或其他）的结构、动态和集体行为。社会网络和其他复杂网络的定量分析。具有广泛社会影响的基础设施和系统（如能源网、运输网络）的物理和工程。
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英文摘要：
  Many systems of different nature exhibit scale free behaviors. Economic systems with power law distribution in the wealth is one of the examples. To better understand the working behind the complexity, we undertook an empirical study measuring the interactions between market participants. A Web server was setup to administer the exchange of futures contracts whose liquidation prices were coupled to event outcomes. After free registration, participants started trading to compete for the money prizes upon maturity of the futures contracts at the end of the experiment. The evolving `cash' flow network was reconstructed from the transactions between players. We show that the network topology is hierarchical, disassortative and scale-free with a power law exponent of 1.02+-0.09 in the degree distribution. The small-world property emerged early in the experiment while the number of participants was still small. We also show power law distributions of the net incomes and inter-transaction time intervals. Big winners and losers are associated with high degree, high betweenness centrality, low clustering coefficient and low degree-correlation. We identify communities in the network as groups of the like-minded. The distribution of the community sizes is shown to be power-law distributed with an exponent of 1.19+-0.16.
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PDF链接：
https://arxiv.org/pdf/0705.2551

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关键词：期货交易所 期货交易 交易所 distribution Participants 关联度 合约 experiment 交易 实验