{"id":"https://openalex.org/W3176140838","doi":"https://doi.org/10.1007/s11424-021-0147-8","title":"Heterogeneous Round-Trip Trading and the Emergence of Volatility Clustering in Speculation Game","display_name":"Heterogeneous Round-Trip Trading and the Emergence of Volatility Clustering in Speculation Game","publication_year":2021,"publication_date":"2021-06-28","ids":{"openalex":"https://openalex.org/W3176140838","doi":"https://doi.org/10.1007/s11424-021-0147-8","mag":"3176140838"},"language":"en","primary_location":{"id":"doi:10.1007/s11424-021-0147-8","is_oa":false,"landing_page_url":"https://doi.org/10.1007/s11424-021-0147-8","pdf_url":null,"source":{"id":"https://openalex.org/S45848134","display_name":"Journal of Systems Science and Complexity","issn_l":"1009-6124","issn":["1009-6124","1559-7067"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Systems Science and Complexity","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5062788591","display_name":"Kei Katahira","orcid":null},"institutions":[{"id":"https://openalex.org/I205924995","display_name":"Japan Society for the Promotion of Science","ror":"https://ror.org/00hhkn466","country_code":"JP","type":"nonprofit","lineage":["https://openalex.org/I1319490839","https://openalex.org/I205924995"]},{"id":"https://openalex.org/I146399215","display_name":"University of Tsukuba","ror":"https://ror.org/02956yf07","country_code":"JP","type":"education","lineage":["https://openalex.org/I146399215"]}],"countries":["JP"],"is_corresponding":true,"raw_author_name":"Kei Katahira","raw_affiliation_strings":["Faculty of Engineering, Information and Systems, University of Tsukuba, Tennodai 1-1-1, Tsukuba, Ibaraki, 305-8573, Japan","Research Fellow of Japan Society for the Promotion of Science, Tokyo, Japan"],"affiliations":[{"raw_affiliation_string":"Faculty of Engineering, Information and Systems, University of Tsukuba, Tennodai 1-1-1, Tsukuba, Ibaraki, 305-8573, Japan","institution_ids":["https://openalex.org/I146399215"]},{"raw_affiliation_string":"Research Fellow of Japan Society for the Promotion of Science, Tokyo, Japan","institution_ids":["https://openalex.org/I205924995"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5100402145","display_name":"Yu Chen","orcid":"https://orcid.org/0009-0003-4936-5481"},"institutions":[{"id":"https://openalex.org/I74801974","display_name":"The University of Tokyo","ror":"https://ror.org/057zh3y96","country_code":"JP","type":"education","lineage":["https://openalex.org/I74801974"]}],"countries":["JP"],"is_corresponding":false,"raw_author_name":"Yu Chen","raw_affiliation_strings":["Graduate School of Frontier Sciences, The University of Tokyo, 5-1-5 Kashiwanoha, Kashiwa-shi, Chiba-ken, 277-8563, Japan"],"affiliations":[{"raw_affiliation_string":"Graduate School of Frontier Sciences, The University of Tokyo, 5-1-5 Kashiwanoha, Kashiwa-shi, Chiba-ken, 277-8563, Japan","institution_ids":["https://openalex.org/I74801974"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5062788591"],"corresponding_institution_ids":["https://openalex.org/I146399215","https://openalex.org/I205924995"],"apc_list":{"value":2290,"currency":"EUR","value_usd":2890},"apc_paid":null,"fwci":0.2939,"has_fulltext":false,"cited_by_count":1,"citation_normalized_percentile":{"value":0.74464539,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":93},"biblio":{"volume":"35","issue":"1","first_page":"221","last_page":"244"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11270","display_name":"Complex Systems and Time Series Analysis","score":1.0,"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"}},"topics":[{"id":"https://openalex.org/T11270","display_name":"Complex Systems and Time Series Analysis","score":1.0,"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/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9807000160217285,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"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/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.9794999957084656,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/speculation","display_name":"Speculation","score":0.7705367803573608},{"id":"https://openalex.org/keywords/volatility-clustering","display_name":"Volatility clustering","score":0.743981122970581},{"id":"https://openalex.org/keywords/volatility","display_name":"Volatility (finance)","score":0.6710658669471741},{"id":"https://openalex.org/keywords/herding","display_name":"Herding","score":0.652755618095398},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.6422179937362671},{"id":"https://openalex.org/keywords/trading-strategy","display_name":"Trading strategy","score":0.5450648665428162},{"id":"https://openalex.org/keywords/financial-economics","display_name":"Financial economics","score":0.4790286123752594},{"id":"https://openalex.org/keywords/financial-market","display_name":"Financial market","score":0.44082584977149963},{"id":"https://openalex.org/keywords/econometrics","display_name":"Econometrics","score":0.34571659564971924},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.3338157534599304},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.18354445695877075},{"id":"https://openalex.org/keywords/autoregressive-conditional-heteroskedasticity","display_name":"Autoregressive conditional heteroskedasticity","score":0.14105108380317688}],"concepts":[{"id":"https://openalex.org/C47941915","wikidata":"https://www.wikidata.org/wiki/Q107885","display_name":"Speculation","level":2,"score":0.7705367803573608},{"id":"https://openalex.org/C2776142675","wikidata":"https://www.wikidata.org/wiki/Q7939999","display_name":"Volatility clustering","level":4,"score":0.743981122970581},{"id":"https://openalex.org/C91602232","wikidata":"https://www.wikidata.org/wiki/Q756115","display_name":"Volatility (finance)","level":2,"score":0.6710658669471741},{"id":"https://openalex.org/C177605951","wikidata":"https://www.wikidata.org/wiki/Q1484503","display_name":"Herding","level":2,"score":0.652755618095398},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6422179937362671},{"id":"https://openalex.org/C131562839","wikidata":"https://www.wikidata.org/wiki/Q1574928","display_name":"Trading strategy","level":2,"score":0.5450648665428162},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4790286123752594},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.44082584977149963},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.34571659564971924},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3338157534599304},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.18354445695877075},{"id":"https://openalex.org/C23922673","wikidata":"https://www.wikidata.org/wiki/Q180752","display_name":"Autoregressive conditional heteroskedasticity","level":3,"score":0.14105108380317688},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.0},{"id":"https://openalex.org/C97137747","wikidata":"https://www.wikidata.org/wiki/Q38112","display_name":"Forestry","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1007/s11424-021-0147-8","is_oa":false,"landing_page_url":"https://doi.org/10.1007/s11424-021-0147-8","pdf_url":null,"source":{"id":"https://openalex.org/S45848134","display_name":"Journal of Systems Science and Complexity","issn_l":"1009-6124","issn":["1009-6124","1559-7067"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Systems Science and Complexity","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":56,"referenced_works":["https://openalex.org/W128085809","https://openalex.org/W590239201","https://openalex.org/W1520340355","https://openalex.org/W1527547879","https://openalex.org/W1537415400","https://openalex.org/W1630222016","https://openalex.org/W1644255316","https://openalex.org/W1830719945","https://openalex.org/W1903203327","https://openalex.org/W1970830657","https://openalex.org/W1975541088","https://openalex.org/W1976503548","https://openalex.org/W1986904883","https://openalex.org/W1987655776","https://openalex.org/W1990071252","https://openalex.org/W1999996900","https://openalex.org/W2000042664","https://openalex.org/W2025139541","https://openalex.org/W2059373760","https://openalex.org/W2059500611","https://openalex.org/W2060854787","https://openalex.org/W2078206416","https://openalex.org/W2091653681","https://openalex.org/W2092738222","https://openalex.org/W2097865495","https://openalex.org/W2100011707","https://openalex.org/W2117639665","https://openalex.org/W2124008036","https://openalex.org/W2130502812","https://openalex.org/W2136913207","https://openalex.org/W2168892523","https://openalex.org/W2238865395","https://openalex.org/W2611011638","https://openalex.org/W2800860906","https://openalex.org/W2912567268","https://openalex.org/W2949346072","https://openalex.org/W2949365610","https://openalex.org/W3037330046","https://openalex.org/W3038611684","https://openalex.org/W3098035725","https://openalex.org/W3098410993","https://openalex.org/W3098896864","https://openalex.org/W3099545960","https://openalex.org/W3100643943","https://openalex.org/W3101862054","https://openalex.org/W3101912107","https://openalex.org/W3103362336","https://openalex.org/W3103854854","https://openalex.org/W3105434516","https://openalex.org/W3122552949","https://openalex.org/W3123880662","https://openalex.org/W3124009593","https://openalex.org/W3124247185","https://openalex.org/W3125113634","https://openalex.org/W3125783509","https://openalex.org/W3151070585"],"related_works":["https://openalex.org/W3125404194","https://openalex.org/W3123435914","https://openalex.org/W2304335098","https://openalex.org/W2583280890","https://openalex.org/W2007688605","https://openalex.org/W2017531870","https://openalex.org/W2344501212","https://openalex.org/W2059495787","https://openalex.org/W2023875268","https://openalex.org/W2480475092"],"abstract_inverted_index":null,"counts_by_year":[{"year":2021,"cited_by_count":1}],"updated_date":"2025-11-06T03:46:38.306776","created_date":"2025-10-10T00:00:00"}