标题： 带有社会温度和恐惧的市场意见形成模型 显示英文标题

标题： Opinion formation model for markets with a social temperature and fear

摘要： 在行为金融的精神下，我们使用一种可调社会温度的二维投票模型变体来研究投资者之间的意见形成过程。 此外，引入了一种作用于温度的反馈机制，使得社会温度对市场失衡做出反应，从而变得时间依赖。 在这个玩具市场模型中，社会温度代表了代理人在面对市场失衡（代表投机风险）时的紧张情绪。 我们利用关于不连续广义投票模型相变的知识来确定临界固定点。 系统在这些固定点附近表现出亚稳相，这些相由结构化的晶格状态表征，并伴随着从固定点间歇性偏离的运动。 该模型的统计力学特性被描述，并讨论了其与现实市场中投资者意见形成动态的关系。 显示英文摘要

摘要： In the spirit of behavioral finance, we study the process of opinion formation among investors using a variant of the 2D Voter Model with a tunable social temperature. Further, a feedback acting on the temperature is introduced, such that social temperature reacts to market imbalances and thus becomes time dependent. In this toy market model, social temperature represents nervousness of agents towards market imbalances representing speculative risk. We use the knowledge about the discontinuous Generalized Voter Model phase transition to determine critical fixed points. The system exhibits metastable phases around these fixed points characterized by structured lattice states, with intermittent excursions away from the fixed points. The statistical mechanics of the model is characterized and its relation to dynamics of opinion formation among investors in real markets is discussed.