We present a detailed analysis of the self-organization phenomenon in which the stylized facts originate from finite size effects with respect to the number of agents considered and disappear in the limit of an infinite population. By introducing the possibility that agents can enter or leave the market depending on the behavior of the price, it is possible to show that the system self-organizes in a regime with a finite number of agents which corresponds to the stylized facts. The mechanism to enter or leave the market is based on the idea that a too stable market is unappealing for traders while the presence of price movements attracts agents to enter and speculate on the market. We show that this mechanism is also compatible with the idea that agents are scared by a noisy and risky market at shorter time scales. We also show that the mechanism for self-organization is robust with respect to variations of the exit/entry rules and that the attempt to trigger the system to self-organize in a region without stylized facts leads to an unrealistic dynamics. We study the self-organization in a specific agent based model but we believe that the basic ideas should be of general validity.
Weaker Coherence, Weaker Reciprocity: Comparing the Semantic and Social Organization of Moltbook and Reddit
Universidad de Buenos Aires, Facultad de Ciencias Exactas y Naturales（布宜诺斯艾利斯大学，理学院）；Instituto de Física Interdisciplinaria y Aplicada (INFINA), CONICET – Universidad de Buenos Aires（跨学科与应用物理研究所 (INFINA)，阿根廷国家科学研究委员会 - 布宜诺斯艾利斯大学）；Instituto Balseiro, Universidad Nacional de Cuyo y Comisión Nacional de Energía Atómica（巴尔塞罗研究所，门多萨国立大学与阿根廷国家原子能委员会）；Consejo Nacional de Investigaciones Científicas y Técnicas (CONICET)（阿根廷国家科学研究委员会 (CONICET)）
