A Model of Animal Spirits via Sentiment Spreading
Autor(a) principal: | |
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Data de Publicação: | 2015 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.21/6897 |
Resumo: | In order to incorporate animal spirits in a scientifically rigorous inquiry about the causes of aggregate business cycles, one needs to explore the foundations of human behavior, namely concerning the process through which sentiment switching occurs. Which factors drive human sentiments? In what conditions a pessimistic individual becomes an optimist, or the other way around? Is it possible to justify persistent waves of optimism and pessimism under reasonable assumptions concerning social behavior? This article proposes a framework to address the posed questions. The setup is based on rumor propagation theory and it explains how social interaction may lead individuals to change from one sentiment state to the other, eventually triggering a rotation between periods of dominant optimism and periods of dominant pessimism. |
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A Model of Animal Spirits via Sentiment SpreadingAnimal spirits; Waves of optimism and pessimism; Sentiment propagation; Steady-state analysis; Transitional dynamics; Endogenous fluctuations; Interactive Markov chain.In order to incorporate animal spirits in a scientifically rigorous inquiry about the causes of aggregate business cycles, one needs to explore the foundations of human behavior, namely concerning the process through which sentiment switching occurs. Which factors drive human sentiments? In what conditions a pessimistic individual becomes an optimist, or the other way around? Is it possible to justify persistent waves of optimism and pessimism under reasonable assumptions concerning social behavior? This article proposes a framework to address the posed questions. The setup is based on rumor propagation theory and it explains how social interaction may lead individuals to change from one sentiment state to the other, eventually triggering a rotation between periods of dominant optimism and periods of dominant pessimism.RCIPLGomes, Orlando2017-04-04T09:53:45Z20152015-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfapplication/pdfhttp://hdl.handle.net/10400.21/6897engGomes, O. (2015). “A Model of Animal Spirits via Sentiment Spreading.” Nonlinear Dynamics, Psychology and Life Sciences, vol. 19, issue 3, pp. 313-343.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-08-03T09:52:15Zoai:repositorio.ipl.pt:10400.21/6897Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T20:15:57.620787Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
A Model of Animal Spirits via Sentiment Spreading |
title |
A Model of Animal Spirits via Sentiment Spreading |
spellingShingle |
A Model of Animal Spirits via Sentiment Spreading Gomes, Orlando Animal spirits; Waves of optimism and pessimism; Sentiment propagation; Steady-state analysis; Transitional dynamics; Endogenous fluctuations; Interactive Markov chain. |
title_short |
A Model of Animal Spirits via Sentiment Spreading |
title_full |
A Model of Animal Spirits via Sentiment Spreading |
title_fullStr |
A Model of Animal Spirits via Sentiment Spreading |
title_full_unstemmed |
A Model of Animal Spirits via Sentiment Spreading |
title_sort |
A Model of Animal Spirits via Sentiment Spreading |
author |
Gomes, Orlando |
author_facet |
Gomes, Orlando |
author_role |
author |
dc.contributor.none.fl_str_mv |
RCIPL |
dc.contributor.author.fl_str_mv |
Gomes, Orlando |
dc.subject.por.fl_str_mv |
Animal spirits; Waves of optimism and pessimism; Sentiment propagation; Steady-state analysis; Transitional dynamics; Endogenous fluctuations; Interactive Markov chain. |
topic |
Animal spirits; Waves of optimism and pessimism; Sentiment propagation; Steady-state analysis; Transitional dynamics; Endogenous fluctuations; Interactive Markov chain. |
description |
In order to incorporate animal spirits in a scientifically rigorous inquiry about the causes of aggregate business cycles, one needs to explore the foundations of human behavior, namely concerning the process through which sentiment switching occurs. Which factors drive human sentiments? In what conditions a pessimistic individual becomes an optimist, or the other way around? Is it possible to justify persistent waves of optimism and pessimism under reasonable assumptions concerning social behavior? This article proposes a framework to address the posed questions. The setup is based on rumor propagation theory and it explains how social interaction may lead individuals to change from one sentiment state to the other, eventually triggering a rotation between periods of dominant optimism and periods of dominant pessimism. |
publishDate |
2015 |
dc.date.none.fl_str_mv |
2015 2015-01-01T00:00:00Z 2017-04-04T09:53:45Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.21/6897 |
url |
http://hdl.handle.net/10400.21/6897 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Gomes, O. (2015). “A Model of Animal Spirits via Sentiment Spreading.” Nonlinear Dynamics, Psychology and Life Sciences, vol. 19, issue 3, pp. 313-343. |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/pdf |
dc.source.none.fl_str_mv |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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