Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/22052
Authors: 
Alfarano, Simone
Milaković, Mishael
Year of Publication: 
2008
Series/Report no.: 
Economics working paper / Christian-Albrechts-Universität Kiel, Department of Economics 2008,04
Abstract: 
We derive microscopic foundations for a well-known probabilistic herding model in the agent-based finance literature. Lo and behold, the model is quite robust with respect to behavioral heterogeneity, yet structural heterogeneity, in the sense of an underlying network structure that describes the very feasibility of agent interaction, has a crucial and non-trivial impact on the macroscopic properties of the model.
Subjects: 
Herding
networks
mean-field approach
N-dependence
Document Type: 
Working Paper

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