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| Orlando Gomes |
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| ''Exuberance and social contagion'' |
| ( 2016, Vol. 36 No.3 ) |
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| Episodes of collective exuberance that recurrently hit the economy are, in this note, associated with sentiment propagation in a network of social relations. The pivotal role played by exuberant individuals will give place to a dynamic setting where limit cycles constitute the most plausible long-term outcome. Endogenous sentiment waves, with peaks and troughs of exuberance, are in this way identified in the context of a straightforward interaction scenario. |
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| Keywords: Exuberance, Social interaction, Sentiment waves, Limit cycles, Neimark-Sacker bifurcation. |
JEL:
D7 - Analysis of Collective Decision-Making: General |
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| Manuscript Received : Apr 30 2016 | | Manuscript Accepted : Sep 03 2016 |
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