The Influence of Confidence and Social Networks on an Agent-Based Model of Stock Exchange

Table 6

EGARCH (1, 1) estimation results.

Variable	No network effect		Variable	Barabási
Parameter	Estimate	Sig.	Parameter	Estimate	Sig.
Omega	−0.911		Omega	−0.240
Alpha	0.145		Alpha	0.218
Beta	0.910		Beta	0.992
Gamma	−0.004		Gamma	0.010
Variable	Random		Variable	Small-world
Parameter	Estimate	Sig.	Parameter	Estimate	Sig.
Omega	−0.535		Omega	−0.425
Alpha	0.324		Alpha	0.316
Beta	0.964		Beta	0.978
Gamma	−0.008		Gamma	−0.002
Variable	Dow Jones		Variable	Small caps
Parameter	Estimate	Sig	Parameter	Estimate	Sig.
Omega	−0.482		Omega	−0.318
Alpha	0.176		Alpha	0.143
Beta	0.963		Beta	0.977
Gamma	−0.155		Gamma	−0.118
Variable	Large caps
Parameter	Estimate	Sig.
Omega	−0.439
Alpha	0.162
Beta	0.966
Gamma	−0.142

The symbols , , and indicate significance at 1%, 5%, and 10%, respectively.