Instruct: Identify the main and secondary category of Arxiv papers based on the titles and abstracts
Query: A microsimulation of traders activity in the stock market: the role of
  heterogeneity, agents' interactions and trade frictions   We propose a model with heterogeneous interacting traders which can explain
some of the stylized facts of stock market returns. In the model
synchronization effects, which generate large fluctuations in returns, can
arise either from an aggregate exogenous shock or, even in its absence, purely
from communication and imitation among traders. A trade friction is introduced
which, by responding to price movements, creates a feedback mechanism on future
trading and generates volatility clustering.

16
The categories of this paper are: stat
27
The categories of this paper are: comp-gas
11
The categories of this paper are: hep-lat
12
The categories of this paper are: nucl-th
23
The categories of this paper are: solv-int
34
The categories of this paper are: chem-ph
10
The categories of this paper are: q-bio
18
The categories of this paper are: econ
25
The categories of this paper are: patt-sol
15
The categories of this paper are: nucl-ex
28
The categories of this paper are: alg-geom
17
The categories of this paper are: q-fin
8
The categories of this paper are: hep-ex
14
The categories of this paper are: math-ph
36
The categories of this paper are: cmp-lg
37
The categories of this paper are: supr-con