We quantify Non Fungible Token (NFT) rarity and investigate how it impacts market behaviour by analysing a dataset of 3.7M transactions collected between January 2018 and June 2022, involving 1.4M NFTs distributed across 410 collections.
View Article and Find Full Text PDFNon Fungible Tokens (NFTs) are digital assets that represent objects like art, collectible, and in-game items. They are traded online, often with cryptocurrency, and are generally encoded within smart contracts on a blockchain. Public attention towards NFTs has exploded in 2021, when their market has experienced record sales, but little is known about the overall structure and evolution of its market.
View Article and Find Full Text PDFIt is widely reported that partisanship in the United States Congress is at an historic high. Given that individuals are persuaded to follow party lines while having the opportunity and incentives to collaborate with members of the opposite party, our goal is to measure the extent to which legislators tend to form ideological relationships with members of the opposite party. We quantify the level of cooperation, or lack thereof, between Democrat and Republican Party members in the U.
View Article and Find Full Text PDFProspect theory is widely viewed as the best available descriptive model of how people evaluate risk in experimental settings. According to prospect theory, people are typically risk-averse with respect to gains and risk-seeking with respect to losses, known as the "reflection effect". People are much more sensitive to losses than to gains of the same magnitude, a phenomenon called "loss aversion".
View Article and Find Full Text PDFThe emergent processes driving cultural history are a product of complex interactions among large numbers of individuals, determined by difficult-to-quantify historical conditions. To characterize these processes, we have reconstructed aggregate intellectual mobility over two millennia through the birth and death locations of more than 150,000 notable individuals. The tools of network and complexity theory were then used to identify characteristic statistical patterns and determine the cultural and historical relevance of deviations.
View Article and Find Full Text PDFDo regional boundaries defined by governments respect the more natural ways that people interact across space? This paper proposes a novel, fine-grained approach to regional delineation, based on analyzing networks of billions of individual human transactions. Given a geographical area and some measure of the strength of links between its inhabitants, we show how to partition the area into smaller, non-overlapping regions while minimizing the disruption to each person's links. We tested our method on the largest non-Internet human network, inferred from a large telecommunications database in Great Britain.
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