{"id":"https://openalex.org/W4407183464","doi":"https://doi.org/10.52202/085713-2132","title":"TwinMarket: A Scalable Behavioral and Social Simulation for Financial Markets","display_name":"TwinMarket: A Scalable Behavioral and Social Simulation for Financial Markets","publication_year":2025,"publication_date":"2025-01-01","ids":{"openalex":"https://openalex.org/W4407183464","doi":"https://doi.org/10.52202/085713-2132"},"language":"en","primary_location":{"id":"doi:10.52202/085713-2132","doi":"https://doi.org/10.52202/085713-2132","is_oa":false,"landing_page_url":"https://doi.org/10.52202/085713-2132","pdf_url":null,"source":{"id":"https://openalex.org/S4363606243","display_name":"neural information processing systems","issn_l":"1049-5258","issn":["1049-5258"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core","norway-2"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"conference"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Advances in Neural Information Processing Systems 38","raw_type":"proceedings-article"},"volume":null,"type":"conference-paper","is_traditional":true,"indexed_in":["arxiv","crossref","datacite"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://arxiv.org/pdf/2502.01506","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5101216596","display_name":"Yuzhe Yang","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I154570441","display_name":"University of California, Santa Barbara","ror":"https://ror.org/02t274463","country_code":"US","type":"education","lineage":["https://openalex.org/I154570441"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Yuzhe YANG","raw_affiliation_strings":["University of California, Santa Barbara"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of California, Santa Barbara","institution_ids":["https://openalex.org/I154570441"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5100386924","display_name":"Yifei Zhang","orcid":"https://orcid.org/0000-0001-8314-2001","observed_orcids":["https://orcid.org/0000-0001-8314-2001","https://orcid.org/0009-0004-3462-0432"]},"institutions":[{"id":"https://openalex.org/I177725633","display_name":"Chinese University of Hong Kong","ror":"https://ror.org/00t33hh48","country_code":"HK","type":"education","lineage":["https://openalex.org/I177725633"]},{"id":"https://openalex.org/I881766915","display_name":"Nanjing University","ror":"https://ror.org/01rxvg760","country_code":"CN","type":"education","lineage":["https://openalex.org/I881766915"]}],"countries":["CN","HK"],"is_corresponding":false,"raw_author_name":"Yifei Zhang","raw_affiliation_strings":["The Chinese University of Hong Kong","nanjing university"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"The Chinese University of Hong Kong","institution_ids":["https://openalex.org/I177725633"]},{"raw_affiliation_string":"nanjing university","institution_ids":["https://openalex.org/I881766915"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5022151811","display_name":"Minghao Wu","orcid":"https://orcid.org/0000-0001-7185-0318","observed_orcids":["https://orcid.org/0000-0001-7185-0318","https://orcid.org/0009-0003-7208-3992"]},"institutions":[{"id":"https://openalex.org/I4210116924","display_name":"Chinese University of Hong Kong, Shenzhen","ror":"https://ror.org/02d5ks197","country_code":"CN","type":"education","lineage":["https://openalex.org/I177725633","https://openalex.org/I180726961","https://openalex.org/I4210116924"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Minghao Wu","raw_affiliation_strings":["The Chinese University of Hong Kong, Shenzhen"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"The Chinese University of Hong Kong, Shenzhen","institution_ids":["https://openalex.org/I4210116924"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5101436797","display_name":"Kaidi Zhang","orcid":"https://orcid.org/0000-0002-3018-1522","observed_orcids":["https://orcid.org/0000-0002-3018-1522"]},"institutions":[{"id":"https://openalex.org/I177725633","display_name":"Chinese University of Hong Kong","ror":"https://ror.org/00t33hh48","country_code":"HK","type":"education","lineage":["https://openalex.org/I177725633"]}],"countries":["HK"],"is_corresponding":false,"raw_author_name":"Kaidi Zhang","raw_affiliation_strings":["The Chinese University of Hong Kong"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"The Chinese University of Hong Kong","institution_ids":["https://openalex.org/I177725633"]}]},{"author_position":"middle","author":{"id":null,"display_name":"Yunmiao Zhang","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I177725633","display_name":"Chinese University of Hong Kong","ror":"https://ror.org/00t33hh48","country_code":"HK","type":"education","lineage":["https://openalex.org/I177725633"]},{"id":"https://openalex.org/I881766915","display_name":"Nanjing University","ror":"https://ror.org/01rxvg760","country_code":"CN","type":"education","lineage":["https://openalex.org/I881766915"]}],"countries":["CN","HK"],"is_corresponding":false,"raw_author_name":"Yunmiao Zhang","raw_affiliation_strings":["The Chinese University of Hong Kong","nanjing university"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"The Chinese University of Hong Kong","institution_ids":["https://openalex.org/I177725633"]},{"raw_affiliation_string":"nanjing university","institution_ids":["https://openalex.org/I881766915"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5100513937","display_name":"Honghai Yu","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I881766915","display_name":"Nanjing University","ror":"https://ror.org/01rxvg760","country_code":"CN","type":"education","lineage":["https://openalex.org/I881766915"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Honghai Yu","raw_affiliation_strings":["nanjing university"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"nanjing university","institution_ids":["https://openalex.org/I881766915"]}]},{"author_position":"middle","author":{"id":null,"display_name":"Yan Hu","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I4210116924","display_name":"Chinese University of Hong Kong, Shenzhen","ror":"https://ror.org/02d5ks197","country_code":"CN","type":"education","lineage":["https://openalex.org/I177725633","https://openalex.org/I180726961","https://openalex.org/I4210116924"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Yan Hu","raw_affiliation_strings":["The Chinese University of Hong Kong, Shenzhen"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"The Chinese University of Hong Kong, Shenzhen","institution_ids":["https://openalex.org/I4210116924"]}]},{"author_position":"last","author":{"id":null,"display_name":"Benyou Wang","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I4210116924","display_name":"Chinese University of Hong Kong, Shenzhen","ror":"https://ror.org/02d5ks197","country_code":"CN","type":"education","lineage":["https://openalex.org/I177725633","https://openalex.org/I180726961","https://openalex.org/I4210116924"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Benyou Wang","raw_affiliation_strings":["The Chinese University of Hong Kong, Shenzhen"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"The Chinese University of Hong Kong, Shenzhen","institution_ids":["https://openalex.org/I4210116924"]}]}],"institutions":[],"countries_distinct_count":3,"institutions_distinct_count":4,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":15.337,"has_fulltext":true,"cited_by_count":46,"citation_normalized_percentile":{"value":0.99236286,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":93,"max":100},"biblio":{"volume":null,"issue":null,"first_page":"70830","last_page":"70880"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10456","display_name":"Multi-Agent Systems and Negotiation","score":0.5160999894142151,"subfield":{"id":"https://openalex.org/subfields/1702","display_name":"Artificial Intelligence"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},"topics":[{"id":"https://openalex.org/T10456","display_name":"Multi-Agent Systems and Negotiation","score":0.5160999894142151,"subfield":{"id":"https://openalex.org/subfields/1702","display_name":"Artificial Intelligence"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T11270","display_name":"Complex Systems and Time Series Analysis","score":0.4438000023365021,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11195","display_name":"Simulation Techniques and Applications","score":0.008899999782443047,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/llm-based-agents","display_name":"LLM agents","score":0.8899999856948853},{"id":"https://openalex.org/keywords/multi-agent-simulation","display_name":"multi-agent simulation","score":0.7770000100135803},{"id":"https://openalex.org/keywords/behavioral-economics","display_name":"behavioral economics","score":0.8040000200271606},{"id":"https://openalex.org/keywords/social-emergence","display_name":"social emergence","score":0.6890000104904175},{"id":"https://openalex.org/keywords/financial-markets","display_name":"financial markets","score":0.6069999933242798},{"id":"https://openalex.org/keywords/stock-market-simulation","display_name":"stock market simulation","score":0.8370000123977661},{"id":"https://openalex.org/keywords/asset-bubbles","display_name":"asset price bubbles","score":0.8320000171661377},{"id":"https://openalex.org/keywords/recession","display_name":"economic recession","score":0.7490000128746033},{"id":"https://openalex.org/keywords/collective-behavior","display_name":"collective behavior","score":0.6800000071525574},{"id":"https://openalex.org/keywords/individual-decision-making","display_name":"individual decision-making","score":0.6439999938011169},{"id":"https://openalex.org/keywords/socioeconomic-dynamics","display_name":"socio-economic dynamics","score":0.7229999899864197}],"concepts":[{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.5557112097740173},{"id":"https://openalex.org/C109574028","wikidata":"https://www.wikidata.org/wiki/Q647525","display_name":"Behavioral economics","level":2,"score":0.4989449977874756},{"id":"https://openalex.org/C48044578","wikidata":"https://www.wikidata.org/wiki/Q727490","display_name":"Scalability","level":2,"score":0.46806302666664124},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.43332189321517944},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.412134051322937},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3013734817504883},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.2843995690345764},{"id":"https://openalex.org/C77088390","wikidata":"https://www.wikidata.org/wiki/Q8513","display_name":"Database","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.52202/085713-2132","doi":"https://doi.org/10.52202/085713-2132","is_oa":false,"landing_page_url":"https://doi.org/10.52202/085713-2132","pdf_url":null,"source":{"id":"https://openalex.org/S4363606243","display_name":"neural information processing systems","issn_l":"1049-5258","issn":["1049-5258"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core","norway-2"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"conference"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Advances in Neural Information Processing Systems 38","raw_type":"proceedings-article"},{"id":"pmh:oai:arXiv.org:2502.01506","doi":null,"is_oa":true,"landing_page_url":"http://arxiv.org/abs/2502.01506","pdf_url":"https://arxiv.org/pdf/2502.01506","source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},{"id":"doi:10.48550/arxiv.2502.01506","doi":"https://doi.org/10.48550/arxiv.2502.01506","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2502.01506","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Preprint"}],"best_oa_location":{"id":"pmh:oai:arXiv.org:2502.01506","doi":null,"is_oa":true,"landing_page_url":"http://arxiv.org/abs/2502.01506","pdf_url":"https://arxiv.org/pdf/2502.01506","source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},"sustainable_development_goals":[],"study_designs":[],"awards":[{"id":"https://openalex.org/G524075158","display_name":null,"funder_award_id":"12326608","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"},{"id":"https://openalex.org/G8990245152","display_name":null,"funder_award_id":"72495151","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"}],"funders":[{"id":"https://openalex.org/F4320321001","display_name":"National Natural Science Foundation of China","ror":"https://ror.org/01h0zpd94"}],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4407183464.pdf","grobid_xml":"https://content.openalex.org/works/W4407183464.grobid-xml"},"referenced_works_count":22,"referenced_works":["https://openalex.org/W4385291101","https://openalex.org/W4387835442","https://openalex.org/W4387994499","https://openalex.org/W4388787757","https://openalex.org/W4392384650","https://openalex.org/W4396912858","https://openalex.org/W4400222344","https://openalex.org/W4403346085","https://openalex.org/W4404346614","https://openalex.org/W4404400455","https://openalex.org/W4404571155","https://openalex.org/W4405419420","https://openalex.org/W4406272922","https://openalex.org/W4407570917","https://openalex.org/W4411113149","https://openalex.org/W4414801145","https://openalex.org/W4414887398","https://openalex.org/W4414942225","https://openalex.org/W4415798544","https://openalex.org/W4415800455","https://openalex.org/W7133224126","https://openalex.org/W7196932832"],"related_works":["https://openalex.org/W7213271157","https://openalex.org/W4405036134","https://openalex.org/W4415338923","https://openalex.org/W7166687329","https://openalex.org/W4407570917","https://openalex.org/W4417324113","https://openalex.org/W7133353562","https://openalex.org/W6966911450","https://openalex.org/W7090340411","https://openalex.org/W4416017616"],"abstract_inverted_index":{"The":[0],"study":[1],"of":[2,30,82],"social":[3,12,58],"emergence":[4],"has":[5],"long":[6],"been":[7],"a":[8,91,124],"central":[9],"focus":[10],"in":[11,38,57,123],"science.":[13],"Traditional":[14],"modeling":[15,54],"approaches,":[16],"such":[17,142],"as":[18,50,143],"rule-based":[19],"Agent-Based":[20],"Models":[21],"(ABMs),":[22],"struggle":[23],"to":[24,98,115,139],"capture":[25],"the":[26,34,154],"diversity":[27],"and":[28,60,74,110,118,146,160],"complexity":[29],"human":[31,55],"behavior,":[32],"particularly":[33],"irrational":[35],"factors":[36],"emphasized":[37],"behavioral":[39],"economics.":[40],"Recently,":[41],"large":[42],"language":[43],"model":[44],"(LLM)":[45],"agents":[46],"have":[47],"gained":[48],"traction":[49],"simulation":[51],"tools":[52],"for":[53,69],"behavior":[56],"science":[59],"role-playing":[61],"applications.":[62],"Studies":[63],"suggest":[64],"that":[65,95],"LLMs":[66,97],"can":[67,134],"account":[68],"cognitive":[70],"biases,":[71],"emotional":[72],"fluctuations,":[73],"other":[75],"non-rational":[76],"influences,":[77],"enabling":[78],"more":[79],"realistic":[80],"simulations":[81],"socio-economic":[83,100,162],"dynamics.":[84],"In":[85],"this":[86],"work,":[87],"we":[88,103,129],"introduce":[89],"TwinMarket,":[90],"novel":[92],"multi-agent":[93],"framework":[94],"leverages":[96],"simulate":[99],"systems.":[101],"Specifically,":[102],"examine":[104],"how":[105,131],"individual":[106,132,158],"behaviors,":[107,137],"through":[108],"interactions":[109],"feedback":[111],"mechanisms,":[112],"give":[113],"rise":[114],"collective":[116,161],"dynamics":[117],"emergent":[119,140],"phenomena.":[120],"Through":[121],"experiments":[122],"simulated":[125],"stock":[126],"market":[127],"environment,":[128],"demonstrate":[130],"actions":[133],"trigger":[135],"group":[136],"leading":[138],"outcomes":[141],"financial":[144],"bubbles":[145],"recessions.":[147],"Our":[148],"approach":[149],"provides":[150],"valuable":[151],"insights":[152],"into":[153],"complex":[155],"interplay":[156],"between":[157],"decision-making":[159],"patterns.":[163]},"counts_by_year":[{"year":2026,"cited_by_count":28},{"year":2025,"cited_by_count":16},{"year":2024,"cited_by_count":2}],"updated_date":"2026-11-12T12:28:57.059296","created_date":"2025-02-06T00:00:00"}
