The Opinion Game: Stock price evolution from microscopic market modelling

We propose a class of Markovian agent based models for the time evolution of a share price in an interactive market. The models rely on a microscopic description of a market of buyers and sellers who change their opinion about the stock value in a stochastic way. The actual price is determined in realistic way by matching (clearing) offers until no further transactions can be performed. Some analytic results for a non-interacting model are presented. We also propose basic interaction mechanisms and show in simulations that these already reproduce certain particular features of prices in real stock markets.Comment: 14 pages, 5 figure

Some Relevant Econophysics’ Moments of History, Definitions, Methods, Models and New Trends

New models result from a new way of thinking or from the trans-disciplinary methods used in new domains. Econophysics improve the quality of the classical research of Economics through its original models and methods. As a new or very young science Econophysics means either a new domain for physicists or new methods and ways of thinking for economists in the modern world. Physicists have recently established careers in the banking, financial, life insurance and marketing more easily than we could imagine only because their appetite for data and new laws of economic realities. After a brief historical background of the last three decades, a new section is defining what Econophysics is, and others underline significant methods, models, results, and trends. A final remark is inspired by the needs of globalize economies.Econophysics, Statistical Physics, Econophysics model, Quantum Statistics, power law, diffusion.

Why do gamers buy 'virtual assets'? An insight in to the psychology behind purchase behaviour

The present study investigated the phenomenon of buying 'virtual assets' for game avatars. Virtual Assets are items that are bought with real-world money for an avatar in-game. Weapons, items, pets, mounts and skin customisations are the most popular examples. Using a qualitative methodology - in this case Interpretative phenomenological analysis (IPA) - six gamers that regularly bought in - game assets were interviewed. IPA was chosen because of its emphasis on lived experience, and each participant had subjective experiences of gaming and purchase behaviour. Of particular focus in this study were the superordinate themes of motivations for purchase behaviour, the resulting psychological impact on the gamer, the social benefits of gaming and virtual asset purchasing, emotional attachment, self-expression through the avatar, impulsivity versus thoughtfulness in purchase intention, and the impact of a transaction machinery on the 'game experience'. Motivations that were found to be of particular importance were item exclusivity, function, social appeal, and collectability. It was found that virtual items enable the gamer to express themselves, feel real satisfaction, and build lasting friendships. Essentially, virtual assets and gaming mostly had a very positive impact on the participant’s psychological wellbeing. Implications for gamers and games production companies are considered