In a study in the New Journal of Physics, researchers constructed a network from market transaction data that allowed them to identify investor heading behaviors, an approach they believe could lead to insights about how stock price is determined.

They say the approach may lead to identification of trading patterns and strategies that collectively determine stock price.

The international research team, which includes SFI Professor Fabrizio Lillo, based its analysis on a data from thousands of investor trades of Finnish stocks.

Read the Physorg.com article (January 27, 2012)

Read the New Journal of Physics paper (January 2012)

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