Nonlinear Pólya Urn Model and Phase Transitions

Masato Hisakado
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Masato Hisakado: Nomura Hodings, Inc.

Chapter Chapter 4 in Urn Models and Their Applications in Finance, 2025, pp 49-65 from Springer

Abstract: Abstract In Chap. 3 , we introduced a sequential voting model that is similar to a Keynesian beauty contest and considered the Pólya urn model as an analog herder. Herders vote for each candidate with probabilities that are proportional to the candidates’ votes. We can consider the extreme herders who always choose the candidate with majority of the previous votes, which is visible to them. We refer to these herders as digital herders.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-96-3825-3_4

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DOI: 10.1007/978-981-96-3825-3_4

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