Wang Zhiting, Shi Guiyuan, Shang Mingsheng, Zhang Yuxia
Physics and Photoelectricity School, South China University of Technology, Guangzhou 510640, China.
International Academic Center of Complex Systems, Beijing Normal University at Zhuhai, Zhuhai 519087, China.
Entropy (Basel). 2021 Jul 14;23(7):893. doi: 10.3390/e23070893.
Finding the critical factor and possible "Newton's laws" in financial markets has been an important issue. However, with the development of information and communication technologies, financial models are becoming more realistic but complex, contradicting the objective law "Greatest truths are the simplest." Therefore, this paper presents an evolutionary model independent of micro features and attempts to discover the most critical factor. In the model, information is the only critical factor, and stock price is the emergence of collective behavior. The statistical properties of the model are significantly similar to the real market. It also explains the correlations of stocks within an industry, which provides a new idea for studying critical factors and core structures in the financial markets.
寻找金融市场中的关键因素以及可能的“牛顿定律”一直是一个重要问题。然而，随着信息与通信技术的发展，金融模型变得更加现实但也更加复杂，这与“最伟大的真理是最简单的”这一客观规律相矛盾。因此，本文提出了一个独立于微观特征的演化模型，并试图发现最关键的因素。在该模型中，信息是唯一的关键因素，而股票价格是集体行为的涌现。该模型的统计特性与真实市场显著相似。它还解释了行业内股票的相关性，为研究金融市场中的关键因素和核心结构提供了新思路。
