{
  "annotation_id": "f0efd6f1-16bc-48fa-a516-e60bbf716577",
  "date_created": "2026-03-02T18:00:56.756000Z",
  "date_modified": "2026-03-02T18:00:56.756000Z",
  "file_hash": "3029e3aca8df8a9f633d1ee20f7aadd1e90dcc74aea57f530ebb6f2c202962a3",
  "private": false,
  "record": {
    "abstract": "We study a dynamical Ising model of agents\u0027 opinions (buy or sell) with\ncoupling coefficients reassessed continuously in time according to how past\nexternal news (magnetic field) have explained realized market returns. By\ncombining herding, the impact of external news and private information, we test\nwithin the same model the hypothesis that agents are rational versus\nirrational. We find that the stylized facts of financial markets are reproduced\nonly when agents are over-confident and mis-attribute the success of news to\npredict return to herding effects, thereby providing positive feedbacks leading\nto the model functioning close to the critical point.",
    "arxiv_id": "physics/0503230",
    "authors": [
      "Wei-Xing Zhou",
      "Didier Sornette"
    ],
    "categories": [
      "physics.soc-ph",
      "cond-mat.stat-mech",
      "q-fin.ST"
    ],
    "doi": "10.1140/epjb/e2006-00391-6",
    "journal_ref": "European Physical Journal B 55(2), 175-181 (2007)",
    "title": "Self-fulfilling Ising Model of Financial Markets",
    "url": "https://arxiv.org/abs/physics/0503230"
  },
  "schema_id": "dorsal/arxiv",
  "source": {
    "execution_id": "bb5e23f6-32d2-452c-ac96-e650f89c0298",
    "id": "arXiv Dataset IDs",
    "type": "Model",
    "variant": "snapshot-2026-03-01",
    "version": "0.1.0"
  },
  "user_id": 1000002
}