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This article proposes a combination model, which is composed of latent Dirichlet allocation model, TF-IDF feature extraction algorithm and Euclidean distance measurement method, to identify and judge whether the similarities between multiple policy texts exist or not. With the help of actual data result, this will drive the relevant government agencies to figure out problems in a timely manner and provide a decision-making basis for them to formulate and optimise appropriate economic policies. To this end, this article analyses and studies the four types of economic texts that are classified as Insurance, Banking, Tax and Finance from the Central Government of Hebei province and Shijiazhuang city levels. Also, we consider Beijing, Shanghai and Guangdong. Experimental results show that (1) the combination model can quickly and effectively recognise and determine whether there are similarities between multiple economic policy texts; (2) similarities exist or not between the central, provincial and municipal level policy texts depending on the comparison of the distance values across them; (3) the smaller the distance value between economic policy texts of the same kind, the higher the similarity in them; and (4) the distance values between the six policy texts in Finance, Insurance, Bank and Tax categories are ranked from low to high. In terms of similarity, the Finance category is the highest, followed by Insurance and Bank, and the Tax category is the lowest. [ABSTRACT FROM AUTHOR]

We present a new Hawkes-Contact model that combines a Hawkes process and a finite-range contact process to model the stock price movements, especially under the impact of news and other information flows that could lead to contagious effects. To fully capture the underlying price process, we take the Hawkes process to track the full pathway of historical prices on their future movements and the contact process to capture the impact from news/investment sentiment. We compare this full model to a univariate Hawkes process that works as a benchmark model through analyzing their statistical properties using both simulated returns and the real 5-min returns of the crude oil index (Wind CZCE-TA). The statistical properties include probability density function, complementary cumulative distribution function, and Lempel-Ziv Complex. Our results show that the real returns' distribution is often far from normal, but the simulated returns through the Hawkes or Hawke-Contact model can achieve close fit to the real returns and exhibit similar statistical properties. More importantly, the Hawkes-Contact model performs better than the simple Hawkes model in capturing characteristics in the return movements, which indicates that the price evolution is also driven by the news sentiment created after them. [ABSTRACT FROM AUTHOR]

This paper considers the convergence of trading strategies among artificial traders connected to one another in a social network and trading in a continuous double auction financial marketplace. Convergence is studied by means of an agent-based simulation model called the Social Network Artificial stoCk marKet model. Six different canonical network topologies (including no-network) are used to represent the possible connections between artificial traders. Traders learn from the trading experiences of their connected neighbours by means of reinforcement learning. The results show that the proportions of traders using particular trading strategies are eventually stable. Which strategies dominate in these stable states depends to some extent on the particular network topology of trader connections and the types of traders. [ABSTRACT FROM AUTHOR]