{
  "annotation_id": "19f916b2-3a6d-44c5-bd64-4aab415f9147",
  "date_created": "2026-03-02T18:01:11.166000Z",
  "date_modified": "2026-03-02T18:01:11.166000Z",
  "file_hash": "4931ab0e42b620d4c2b6b0a8497aab8c956e5b50c716aa0c7c301b7a0f1bd439",
  "private": false,
  "record": {
    "abstract": "Standard economic theory assumes that agents in markets behave rationally.\nHowever, the observation of extremely large fluctuations in the price of\nfinancial assets that are not correlated to changes in their fundamental value,\nas well as the extreme instance of financial bubbles and crashes, imply that\nmarkets (at least occasionally) do display irrational behavior. In this paper,\nwe briefly outline our recent work demonstrating that a market with interacting\nagents having bounded rationality can display price fluctuations that are {\\em\nquantitatively} similar to those seen in real markets.",
    "arxiv_id": "physics/0606078",
    "authors": [
      "Sitabhra Sinha"
    ],
    "categories": [
      "physics.soc-ph",
      "cond-mat.other",
      "q-fin.TR"
    ],
    "doi": "10.1007/978-88-470-0502-0_16",
    "title": "The Apparent Madness of Crowds: Irrational collective behavior emerging   from interactions among rational agents",
    "url": "https://arxiv.org/abs/physics/0606078"
  },
  "schema_id": "dorsal/arxiv",
  "source": {
    "execution_id": "c6be3e56-d18f-4d2e-8ad6-dae9e538b817",
    "id": "arXiv Dataset IDs",
    "type": "Model",
    "variant": "snapshot-2026-03-01",
    "version": "0.1.0"
  },
  "user_id": 1000002
}