Dynamic Analysis Of Investor Sentiment Communication In Complex Network

With the rapid development of the Internet in recent years,our society has entered the era of complex networks,and people's production activities and lifestyles are also inseparable from the operation of complex networks.Researching relevant knowledge in some specific networks is more in line with the development of the current era.Therefore,many scholars have made relevant discussions on traditional infectious disease models in complex networks,and obtained more practical results.Scholars of behavioral finance take into account the psychology and behavior of individual investors and many other factors into the investment decision-making behavior of investors,and believe that they are investments made on a certain rational basis plus other factors(such as emotions,education,etc.)behavior.Therefore,the study of individual emotions and emotions is added to the financial system,which can more explain phenomena that cannot be explained by traditional financial theories.At this stage,research on investor sentiment in the securities market mainly focuses on the impact of investor sentiment indicators and investor sentiment itself on investor decision-making and stock returns.Research on the mechanism of investor sentiment communication is relatively lacking.Since emotions are easily contagious,and the contagion of investor sentiment will have a greater impact on market volatility,the spread of investor sentiment is worth studying.This article will combine the traditional infectious disease model to construct two kinds of investor sentiment communication networks of homogeneity and heterogeneity in a complex network,in order to study the process of investor sentiment communication.By discussing the changes in investor emotional state in the real market,in-depth exploration of the internal mechanism of emotional transmission,trying to understand the process and influencing factors of emotional transmission.And analyze the theories of the two models,such as the calculation of the basic reproduction number of the model,the stability analysis of the equilibrium point,and the discussion of the influence of model parameters on the spread of emotions.Mainly from the following aspects:First of all,this paper considers the time lag factor caused by information delay in the homogeneous network and the saturation incidence factor introduced by people's limited social ability,thereby establishing the SIR emotion propagation model.Through analysis,the existence,uniqueness and stability of the equilibrium points in the model are respectively proved,and the results are verified by numerical simulation.The results show that reducing the time lag factor in the system is beneficial to the stability of the system and can effectively control the range of emotion transmission.Secondly,this paper considers the non-uniform network formed by behavioral interaction and the diversity of sentiment propagation,and establishes the SEI₁I₂R model based on the complex network,which verifies the stability of the system and the threshold of investor sentiment propagation.In the numerical simulation,we describe the density change curve of various groups of people in the network,and analyze the density change caused by different factors.The innovation of this article is:considering that the personal contact ability is very limited,the infection rate will always be a saturated state,so in the system on the uniform network,the saturated characteristic contact rate is introduced,and on this basis consider the time lag factors caused by information delay;the investor emotional dissemination process takes into account the existence and influence of the exposed person,and more comprehensively considers the diversity of the former after the contact between susceptible investors and communication investors.