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BEGIN:VEVENT
DTSTAMP:20261019T024259Z
LAST-MODIFIED:20200331T184544Z
DTSTART:20200403T133000Z
DTEND:20200403T143000Z
UID:event2322@bu.edu
URL:http://physics.bu.edu/internal/events/show/2322
SUMMARY:The Statistical Mechanics of Societies: Opinion Formation Dynamics 
	and Financial Markets
DESCRIPTION:Featuring Bernardo Zubillaga Herrera\, Boston University Physic
	s Department\n\nPart of the PhD Final Oral Exams.\n\nThis work proposes a t
	hree-state microscopic opinion formation model based on the stochastic dyna
	mics of the three-state majority-vote model. In order to mimic the heteroge
	neous compositions of societies\, the agent-based model considers two diffe
	rent types of individuals: noise agents and contrarians. We propose an exte
	nsion of the model for the simulation of the dynamics of financial markets.
	\nAgents are represented as nodes in a network of interactions and they can
	 assume any of three distinct possible states (e.g. buy\, sell or remain in
	active\, in a financial context).  The time evolution of the state of an ag
	ent  is dictated by probabilistic dynamics that include both local and glob
	al influences.  A noise agent is subject to local interactions\, tending to
	 assume the majority state of its nearest neighbors with probability 1−q 
	(dissenting from it with a probability given by the noise parameter q). A c
	ontrarian is subject to a global interaction with the society  as a whole\,
	 tending to assume the state of the global minority  of said society with  
	probability 1 − q (dissenting from it with probability q).\nThe stochasti
	c dynamics are simulated on complex networks of different topolo-\n \n\n\n\
	ngies\, including square lattices\, Barabási-Albert networks\, Erdös-Rén
	yi random graphs and small-world networks built according to a link rewirin
	g scheme.\nWe perform Monte Carlo simulations to study the second order pha
	se transition of the system on small-world networks. We perform finite-size
	 scaling analysis and calculate the phase diagram of the system\,  as well 
	as the standard critical exponents for different values of the rewiring pro
	bability. We conclude that the rewiring of the lattice drives the system to
	 different universality classes than that of the three-state majority vote 
	model in a two-dimensional square lattice.\nThe model’s extension for fin
	ancial markets exhibits the typical qualitative and quantitative features o
	f real financial time series\, including heavy-tailed return dis- tribution
	s\, volatility  clustering and long-term memory for the absolute values of 
	the returns. The histograms of returns are fitted by means of coupled expon
	ential dis- tributions\, quantitatively revealing transitions between lepto
	kurtic\, mesokurtic and platykurtic regimes in terms of a nonlinear statist
	ical coupling and a shape parameter which describe the complexity of the sy
	stem.\n\n---\n\nJoin Zoom Meeting\nhttps://zoom.us/j/590832246\n\nMeeting I
	D: 590 832 246
LOCATION: \, \, 
STATUS:CONFIRMED
CLASS:PUBLIC
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