{"id":"https://openalex.org/W1984939207","doi":"https://doi.org/10.1142/s021952590900209x","title":"EMERGENCE OF SCALE-FREE NETWORKS IN MARKETS","display_name":"EMERGENCE OF SCALE-FREE NETWORKS IN MARKETS","publication_year":2009,"publication_date":"2009-02-01","ids":{"openalex":"https://openalex.org/W1984939207","doi":"https://doi.org/10.1142/s021952590900209x","mag":"1984939207"},"language":"en","primary_location":{"id":"doi:10.1142/s021952590900209x","is_oa":false,"landing_page_url":"https://doi.org/10.1142/s021952590900209x","pdf_url":null,"source":{"id":"https://openalex.org/S107361000","display_name":"Advances in Complex Systems","issn_l":"0219-5259","issn":["0219-5259","1793-6802","1793-9615","1793-9623"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319815","host_organization_name":"World Scientific","host_organization_lineage":["https://openalex.org/P4310319815"],"host_organization_lineage_names":["World Scientific"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Advances in Complex Systems","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/A5110079260","display_name":"Jie-Jun Tseng","orcid":null},"institutions":[{"id":"https://openalex.org/I4210111779","display_name":"Institute of Physics, Academia Sinica","ror":"https://ror.org/01tpvdq80","country_code":"TW","type":"facility","lineage":["https://openalex.org/I4210111779","https://openalex.org/I84653119"]}],"countries":["TW"],"is_corresponding":true,"raw_author_name":"JIE-JUN TSENG","raw_affiliation_strings":["Institute of Physics, Academia Sinica, Taipei 115, Taiwan"],"affiliations":[{"raw_affiliation_string":"Institute of Physics, Academia Sinica, Taipei 115, Taiwan","institution_ids":["https://openalex.org/I4210111779"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5002185409","display_name":"Sai-Ping Li","orcid":"https://orcid.org/0000-0002-3233-2339"},"institutions":[{"id":"https://openalex.org/I4210111779","display_name":"Institute of Physics, Academia Sinica","ror":"https://ror.org/01tpvdq80","country_code":"TW","type":"facility","lineage":["https://openalex.org/I4210111779","https://openalex.org/I84653119"]}],"countries":["TW"],"is_corresponding":false,"raw_author_name":"SAI-PING LI","raw_affiliation_strings":["Institute of Physics, Academia Sinica, Taipei 115, Taiwan"],"affiliations":[{"raw_affiliation_string":"Institute of Physics, Academia Sinica, Taipei 115, Taiwan","institution_ids":["https://openalex.org/I4210111779"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5079473592","display_name":"Shu\u2010Heng Chen","orcid":"https://orcid.org/0000-0003-4584-7646"},"institutions":[{"id":"https://openalex.org/I87354575","display_name":"National Chengchi University","ror":"https://ror.org/03rqk8h36","country_code":"TW","type":"education","lineage":["https://openalex.org/I87354575"]}],"countries":["TW"],"is_corresponding":false,"raw_author_name":"SHU-HENG CHEN","raw_affiliation_strings":["AI-Econ Research Center and Department of Economics, National Chengchi University, Taipei 116, Taiwan","AI-Econ Research Center and Department of Economics, National Chengchi University, Taipei, 116, Taiwan"],"affiliations":[{"raw_affiliation_string":"AI-Econ Research Center and Department of Economics, National Chengchi University, Taipei 116, Taiwan","institution_ids":["https://openalex.org/I87354575"]},{"raw_affiliation_string":"AI-Econ Research Center and Department of Economics, National Chengchi University, Taipei, 116, Taiwan","institution_ids":["https://openalex.org/I87354575"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5111902173","display_name":"Sun-Chong Wang","orcid":null},"institutions":[{"id":"https://openalex.org/I22265921","display_name":"National Central University","ror":"https://ror.org/00944ve71","country_code":"TW","type":"education","lineage":["https://openalex.org/I22265921"]}],"countries":["TW"],"is_corresponding":false,"raw_author_name":"SUN-CHONG WANG","raw_affiliation_strings":["Institute of Systems Biology and Bioinformatics, National Central University, Chungli 320, Taiwan","Institute of Systems Biology and Bioinformatics, National Central University, Chungli, 320, Taiwan"],"affiliations":[{"raw_affiliation_string":"Institute of Systems Biology and Bioinformatics, National Central University, Chungli 320, Taiwan","institution_ids":["https://openalex.org/I22265921"]},{"raw_affiliation_string":"Institute of Systems Biology and Bioinformatics, National Central University, Chungli, 320, Taiwan","institution_ids":["https://openalex.org/I22265921"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":4,"corresponding_author_ids":["https://openalex.org/A5110079260"],"corresponding_institution_ids":["https://openalex.org/I4210111779"],"apc_list":null,"apc_paid":null,"fwci":3.0448,"has_fulltext":false,"cited_by_count":13,"citation_normalized_percentile":{"value":0.9307906,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"12","issue":"01","first_page":"87","last_page":"97"},"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":0.9997000098228455,"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":0.9997000098228455,"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/T10064","display_name":"Complex Network Analysis Techniques","score":0.9986000061035156,"subfield":{"id":"https://openalex.org/subfields/3109","display_name":"Statistical and Nonlinear Physics"},"field":{"id":"https://openalex.org/fields/31","display_name":"Physics and Astronomy"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T12592","display_name":"Opinion Dynamics and Social Influence","score":0.9973999857902527,"subfield":{"id":"https://openalex.org/subfields/3109","display_name":"Statistical and Nonlinear Physics"},"field":{"id":"https://openalex.org/fields/31","display_name":"Physics and Astronomy"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/futures-contract","display_name":"Futures contract","score":0.8172847032546997},{"id":"https://openalex.org/keywords/complex-network","display_name":"Complex network","score":0.7170103192329407},{"id":"https://openalex.org/keywords/prediction-market","display_name":"Prediction market","score":0.6124323606491089},{"id":"https://openalex.org/keywords/financial-market","display_name":"Financial market","score":0.5920966267585754},{"id":"https://openalex.org/keywords/scale-free-network","display_name":"Scale-free network","score":0.5788441300392151},{"id":"https://openalex.org/keywords/database-transaction","display_name":"Database transaction","score":0.558902382850647},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.538981556892395},{"id":"https://openalex.org/keywords/scale","display_name":"Scale (ratio)","score":0.49829697608947754},{"id":"https://openalex.org/keywords/transaction-data","display_name":"Transaction data","score":0.4425826370716095},{"id":"https://openalex.org/keywords/cash-flow","display_name":"Cash flow","score":0.4169835150241852},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.30302298069000244},{"id":"https://openalex.org/keywords/econometrics","display_name":"Econometrics","score":0.27863389253616333},{"id":"https://openalex.org/keywords/financial-economics","display_name":"Financial economics","score":0.26384326815605164},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.11529132723808289}],"concepts":[{"id":"https://openalex.org/C106306483","wikidata":"https://www.wikidata.org/wiki/Q183984","display_name":"Futures contract","level":2,"score":0.8172847032546997},{"id":"https://openalex.org/C34947359","wikidata":"https://www.wikidata.org/wiki/Q665189","display_name":"Complex network","level":2,"score":0.7170103192329407},{"id":"https://openalex.org/C2780021719","wikidata":"https://www.wikidata.org/wiki/Q282283","display_name":"Prediction market","level":2,"score":0.6124323606491089},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.5920966267585754},{"id":"https://openalex.org/C25580894","wikidata":"https://www.wikidata.org/wiki/Q1071058","display_name":"Scale-free network","level":3,"score":0.5788441300392151},{"id":"https://openalex.org/C75949130","wikidata":"https://www.wikidata.org/wiki/Q848010","display_name":"Database transaction","level":2,"score":0.558902382850647},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.538981556892395},{"id":"https://openalex.org/C2778755073","wikidata":"https://www.wikidata.org/wiki/Q10858537","display_name":"Scale (ratio)","level":2,"score":0.49829697608947754},{"id":"https://openalex.org/C127722929","wikidata":"https://www.wikidata.org/wiki/Q7833714","display_name":"Transaction data","level":3,"score":0.4425826370716095},{"id":"https://openalex.org/C163428354","wikidata":"https://www.wikidata.org/wiki/Q1047513","display_name":"Cash flow","level":2,"score":0.4169835150241852},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.30302298069000244},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.27863389253616333},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.26384326815605164},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.11529132723808289},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C136764020","wikidata":"https://www.wikidata.org/wiki/Q466","display_name":"World Wide Web","level":1,"score":0.0},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1142/s021952590900209x","is_oa":false,"landing_page_url":"https://doi.org/10.1142/s021952590900209x","pdf_url":null,"source":{"id":"https://openalex.org/S107361000","display_name":"Advances in Complex Systems","issn_l":"0219-5259","issn":["0219-5259","1793-6802","1793-9615","1793-9623"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319815","host_organization_name":"World Scientific","host_organization_lineage":["https://openalex.org/P4310319815"],"host_organization_lineage_names":["World Scientific"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Advances in Complex Systems","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:wsi:acsxxx:v:12:y:2009:i:01:n:s021952590900209x","is_oa":false,"landing_page_url":"http://www.worldscientific.com/doi/abs/10.1142/S021952590900209X","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:RePEc:wsi:acsxxx:v:12:y:2009:i:01:p:87-97","is_oa":false,"landing_page_url":"http://www.worldscinet.com/cgi-bin/details.cgi?type=html&id=pii:S021952590900209X","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320321040","display_name":"National Science Council","ror":"https://ror.org/02kv4zf79"}],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":18,"referenced_works":["https://openalex.org/W1483735435","https://openalex.org/W1515534126","https://openalex.org/W1603577318","https://openalex.org/W1970108419","https://openalex.org/W1972501654","https://openalex.org/W2018567859","https://openalex.org/W2020959454","https://openalex.org/W2048936606","https://openalex.org/W2060642963","https://openalex.org/W2065304353","https://openalex.org/W2124637492","https://openalex.org/W2125315567","https://openalex.org/W2129477071","https://openalex.org/W2130476447","https://openalex.org/W2131773668","https://openalex.org/W2152481102","https://openalex.org/W3123692518","https://openalex.org/W4231546411"],"related_works":["https://openalex.org/W2944759572","https://openalex.org/W2373100292","https://openalex.org/W2088554646","https://openalex.org/W3125380556","https://openalex.org/W2316807176","https://openalex.org/W1977211617","https://openalex.org/W3009528591","https://openalex.org/W1992102981","https://openalex.org/W2742607550","https://openalex.org/W3121235796"],"abstract_inverted_index":{"Financial":[0],"markets":[1,29,188],"are":[2,80],"complex":[3,43],"systems;":[4],"all":[5],"the":[6,10,18,26,47,51,63,71,75,91,97,103,112,133,171,175,181,185,192],"information":[7],"scattered":[8],"around":[9],"market":[11,60,150],"is":[12,22,67,115,161],"fairly":[13],"and":[14,50,184],"dynamically":[15],"reflected":[16],"in":[17,85,136],"current":[19],"prices.":[20],"It":[21],"difficult":[23],"to":[24,45,69],"understand":[25],"dynamics":[27,52],"of":[28,53,106,121,163,174,187],"merely":[30],"by":[31,42,145],"traditional":[32],"analyzing":[33],"methods.":[34],"We":[35,167],"propose":[36],"here":[37],"a":[38,118,129,142,146,158],"new":[39],"concept":[40],"inspired":[41],"networks":[44,177],"study":[46],"trading":[48,72],"behavior":[49,73],"markets.":[54,138],"A":[55],"web-based":[56],"platform":[57,84],"for":[58,87],"prediction":[59],"which":[61,123],"trades":[62],"political":[64],"futures":[65],"contracts":[66],"built":[68],"monitor":[70],"among":[74],"human":[76],"players.":[77],"Two":[78],"experiments":[79],"conducted":[81],"on":[82,180,191],"this":[83],"parallel":[86],"30":[88],"days.":[89],"From":[90],"accumulated":[92],"transaction":[93],"data,":[94],"we":[95,109,154],"reconstruct":[96],"so-called":[98],"cash-flow":[99,176],"networks.":[100,166],"By":[101],"examining":[102],"degree":[104],"distributions":[105],"these":[107],"networks,":[108],"observe":[110],"that":[111,125,156,170],"network":[113,134],"structure":[114,186],"scale-free":[116,165,172],"with":[117,151],"power-law":[119],"exponent":[120],"1.15,":[122],"means":[124],"there":[126],"must":[127],"be":[128],"non-trivial":[130],"mechanism":[131],"governing":[132],"growth":[135],"our":[137],"Through":[139],"carrying":[140],"out":[141],"post-simulation":[143],"modelling":[144],"continuous":[147],"double":[148],"auction":[149],"\"zero-intelligence\"":[152],"traders,":[153],"demonstrate":[155],"such":[157],"simple":[159],"model":[160],"capable":[162],"generating":[164],"thus":[168],"suggest":[169],"nature":[173],"should":[178],"rely":[179],"institutional":[182],"design":[183],"rather":[189],"than":[190],"traders'":[193],"strategies.":[194]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2014,"cited_by_count":4},{"year":2013,"cited_by_count":3},{"year":2012,"cited_by_count":1}],"updated_date":"2026-04-05T17:49:38.594831","created_date":"2025-10-10T00:00:00"}