{"title":"Vocabulary Herfindahl Index (VocaHIn): Linguistic dominance and collective effervescence in WallStreetBets","authors":"Ko Hayakawa , Yoichi Otsubo , Ser-huang Poon , Siliang Wei","doi":"10.1016/j.econlet.2024.112027","DOIUrl":null,"url":null,"abstract":"<div><div>Our analysis of over 150,000 WallStreetBets comments reveals dominant phrases when members of the community experience collective excitement and solidarity (<em>Collective Effervescence</em>). Using the novel <em>Vocabulary Herfindahl Index</em> (<em>VocaHIn</em>), we find that stock returns volatility increases after <em>CE</em>, and vice versa.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"244 ","pages":"Article 112027"},"PeriodicalIF":2.1000,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economics Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0165176524005111","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
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Abstract
Our analysis of over 150,000 WallStreetBets comments reveals dominant phrases when members of the community experience collective excitement and solidarity (Collective Effervescence). Using the novel Vocabulary Herfindahl Index (VocaHIn), we find that stock returns volatility increases after CE, and vice versa.
期刊介绍：
Many economists today are concerned by the proliferation of journals and the concomitant labyrinth of research to be conquered in order to reach the specific information they require. To combat this tendency, Economics Letters has been conceived and designed outside the realm of the traditional economics journal. As a Letters Journal, it consists of concise communications (letters) that provide a means of rapid and efficient dissemination of new results, models and methods in all fields of economic research.
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