<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2448-6655</journal-id>
<journal-title><![CDATA[Análisis económico]]></journal-title>
<abbrev-journal-title><![CDATA[Anál. econ.]]></abbrev-journal-title>
<issn>2448-6655</issn>
<publisher>
<publisher-name><![CDATA[Universidad Autónoma Metropolitana, Unidad Azcapotzalco, División de Ciencias Sociales y Humanidades]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2448-66552019000200179</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[El juego de la vida: una interpretación basada en el contagio de la euforia durante la formación de burbujas especulativas]]></article-title>
<article-title xml:lang="en"><![CDATA[The game of life: an interpretation based in the contagion of euphoria during the formation of speculative bubbles]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Gómez Ramos]]></surname>
<given-names><![CDATA[Elsy Lizbeth]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Guerrero Martínez]]></surname>
<given-names><![CDATA[Héctor Adrián]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Autónoma Metropolitana Departamento de Economía ]]></institution>
<addr-line><![CDATA[Azcapotzalco ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Autónoma Metropolitana Departamento de Producción Económica ]]></institution>
<addr-line><![CDATA[Xochimilco ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>08</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>08</month>
<year>2019</year>
</pub-date>
<volume>34</volume>
<numero>86</numero>
<fpage>179</fpage>
<lpage>195</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-66552019000200179&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-66552019000200179&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-66552019000200179&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Estudios experimentales han mostrado evidencia de que la dinámica en los mercados accionarios propicia que ciertos agentes alienten altas expectativas sobre un activo, tal y como se entiende que ocurre con una burbuja especulativa. Por ello modelar el contagio de la euforia (expectativas) puede ayudar a identificar escenarios de comportamiento dentro de un ambiente complejo. El objetivo de la investigación es realizar simulaciones por computadora con autómatas celulares (ACs) para emular el contagio de la euforia durante la formación de una burbuja especulativa. En específico, se propone El juego de la vida, de Conway como un ejemplo para simular dinámicas complejas, donde el desplazamiento de los individuos es un elemento esencial. En las conclusiones se señala que bajo esta propuesta sólo se requiere de pocos inversionistas y de una ubicación estratégica para contagiar a un número importante de participantes en el mercado.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract Experimental studies have shown evidence that the dynamics in the stock markets generate that some agents encourage high expectations about an asset, as it is understood that it happens in a speculative bubble. Therefore, modeling the contagion of euphoria (expectations) can help to identify behavioral scenarios in a complex environment. The purpose of this research is to perform computer simulations using cellular automata (ACs) to emulate the contagion of euphoria during the formation of a speculative bubble. Specifically, The Game of Life by Conway is proposed as an example to simulate complex dynamics where the displacement of individuals is an essential element. The conclusions indicate that under this proposal only a few investors and a strategic location are required to infect a significant number of market participants.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Burbujas especulativas]]></kwd>
<kwd lng="es"><![CDATA[Automatas celulares]]></kwd>
<kwd lng="es"><![CDATA[Contagio]]></kwd>
<kwd lng="es"><![CDATA[Sistemas complejos]]></kwd>
<kwd lng="en"><![CDATA[Burbujas especulativas]]></kwd>
<kwd lng="en"><![CDATA[Autómatas celulares]]></kwd>
<kwd lng="en"><![CDATA[Contagio]]></kwd>
<kwd lng="en"><![CDATA[Sistemas compls]]></kwd>
</kwd-group>
</article-meta>
</front><back>
<ref-list>
<ref id="B1">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Ang]]></surname>
<given-names><![CDATA[J. S.]]></given-names>
</name>
<name>
<surname><![CDATA[Diavatopoulos]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
<name>
<surname><![CDATA[Schwarz]]></surname>
<given-names><![CDATA[T. V.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The creation and control of speculative bubbles in a laboratory setting]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Lee]]></surname>
</name>
</person-group>
<source><![CDATA[Handbook of Quantitative Finance and Risk Management]]></source>
<year>2010</year>
<page-range>137-64</page-range><publisher-name><![CDATA[Springer Science]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B2">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Baynes]]></surname>
<given-names><![CDATA[T. M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Complexity in urban development and management: Historical overview and opportunities]]></article-title>
<source><![CDATA[Journal of Industrial Ecology]]></source>
<year>2009</year>
<volume>13</volume>
<numero>2</numero>
<issue>2</issue>
<page-range>214-27</page-range></nlm-citation>
</ref>
<ref id="B3">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Bedau]]></surname>
<given-names><![CDATA[M. A.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Artificial Life]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Mohan]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
<name>
<surname><![CDATA[Stephens]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
</person-group>
<source><![CDATA[Handbook of the Philosophy of Science]]></source>
<year>2007</year>
<volume>3</volume>
<page-range>595-613</page-range><publisher-loc><![CDATA[Amsterdam ]]></publisher-loc>
<publisher-name><![CDATA[North Holland]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B4">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Bikhchandani]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
<name>
<surname><![CDATA[Sharma]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Herd behavior in financial markets]]></article-title>
<source><![CDATA[International Monetary Fund Staff Papers]]></source>
<year>2001</year>
<volume>47</volume>
<numero>3</numero>
<issue>3</issue>
<page-range>279-310</page-range></nlm-citation>
</ref>
<ref id="B5">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Black]]></surname>
<given-names><![CDATA[F.]]></given-names>
</name>
<name>
<surname><![CDATA[Scholes]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The pricing of options and corporate liabilities]]></article-title>
<source><![CDATA[The Journal of Political Economy]]></source>
<year>1973</year>
<volume>81</volume>
<numero>3</numero>
<issue>3</issue>
<page-range>637-54</page-range></nlm-citation>
</ref>
<ref id="B6">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Blaug]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<source><![CDATA[Teoría económica en retrospección]]></source>
<year>2001</year>
<publisher-loc><![CDATA[México ]]></publisher-loc>
<publisher-name><![CDATA[Fondo de Cultura Económica]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B7">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Boccara]]></surname>
<given-names><![CDATA[N.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Automata network models of interacting populations]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Goles]]></surname>
<given-names><![CDATA[E.]]></given-names>
</name>
<name>
<surname><![CDATA[Martínez]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
</person-group>
<source><![CDATA[Cellular automata, dynamical systems and neural networks]]></source>
<year>1994</year>
<page-range>23-78</page-range><publisher-name><![CDATA[Springer]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B8">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[De la Reza]]></surname>
<given-names><![CDATA[G. A.]]></given-names>
</name>
</person-group>
<source><![CDATA[Sistemas complejos, perspectivas de una teoría general]]></source>
<year>2010</year>
<publisher-loc><![CDATA[Barcelona ]]></publisher-loc>
<publisher-name><![CDATA[Anthropos]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B9">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Duarte]]></surname>
<given-names><![CDATA[J. B.]]></given-names>
</name>
<name>
<surname><![CDATA[Talero]]></surname>
<given-names><![CDATA[L. H.]]></given-names>
</name>
<name>
<surname><![CDATA[Sierra]]></surname>
<given-names><![CDATA[K. J.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Evaluation of the effect of investor psychology on an artificial stock market through its degree of efficiency]]></article-title>
<source><![CDATA[Contaduría y Administración]]></source>
<year>2007</year>
<volume>62</volume>
<numero>4</numero>
<issue>4</issue>
<page-range>1361-76</page-range></nlm-citation>
</ref>
<ref id="B10">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Emmeche]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
</person-group>
<source><![CDATA[Vida simulada en el ordenador: la nueva ciencia de la inteligencia artificial]]></source>
<year>1998</year>
<publisher-loc><![CDATA[Barcelona ]]></publisher-loc>
<publisher-name><![CDATA[Gedisa]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B11">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Fogel]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
</person-group>
<source><![CDATA[Evolutionary computation. Toward a new philosophy of machine intelligence]]></source>
<year>2006</year>
<publisher-name><![CDATA[IEEE press series on Computational Intelligence]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B12">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Gaylor]]></surname>
<given-names><![CDATA[R. J.]]></given-names>
</name>
<name>
<surname><![CDATA[Wellin]]></surname>
<given-names><![CDATA[P. R.]]></given-names>
</name>
</person-group>
<source><![CDATA[Computer simulations with Mathematica, explorations in complex physical and biological systems]]></source>
<year>1995</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Springer-Verlag]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B13">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Gravner]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Growth phenomena in cellular automata]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Griffeath]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
<name>
<surname><![CDATA[Moore]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
</person-group>
<source><![CDATA[New constructions in cellular automata]]></source>
<year>2003</year>
<page-range>161-81</page-range><publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Oxford University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B14">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Iraola]]></surname>
<given-names><![CDATA[M. A.]]></given-names>
</name>
<name>
<surname><![CDATA[Santos]]></surname>
<given-names><![CDATA[M. S.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Speculative bubbles]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Jones]]></surname>
<given-names><![CDATA[G.]]></given-names>
</name>
</person-group>
<source><![CDATA[Banking Crises]]></source>
<year>2016</year>
<page-range>316-20</page-range><publisher-loc><![CDATA[London ]]></publisher-loc>
<publisher-name><![CDATA[Palgrave Macmillan]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B15">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Kowalska-Styczen]]></surname>
<given-names><![CDATA[A.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Simulation model of consumer decision making]]></article-title>
<source><![CDATA[Operations Research &amp; Decisions]]></source>
<year>2009</year>
<volume>19</volume>
<numero>4</numero>
<issue>4</issue>
<page-range>47-60</page-range></nlm-citation>
</ref>
<ref id="B16">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Lechuga]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[El calentamiento financiero global]]></article-title>
<source><![CDATA[Análisis Económico]]></source>
<year>2013</year>
<volume>28</volume>
<numero>68</numero>
<issue>68</issue>
<page-range>79-102</page-range></nlm-citation>
</ref>
<ref id="B17">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[McNelis]]></surname>
<given-names><![CDATA[P. D.]]></given-names>
</name>
</person-group>
<source><![CDATA[Neural networks in finance: Gaining predictive edge in the market]]></source>
<year>2005</year>
<publisher-loc><![CDATA[San Diego ]]></publisher-loc>
<publisher-name><![CDATA[Elsevier Academic Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B18">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Ohgai]]></surname>
<given-names><![CDATA[A.]]></given-names>
</name>
<name>
<surname><![CDATA[Igarashi]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
<name>
<surname><![CDATA[Watanabe]]></surname>
<given-names><![CDATA[K]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Estimating changing distributions of population and employees by cellular automata]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Bandini]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
<name>
<surname><![CDATA[Worsch]]></surname>
<given-names><![CDATA[T.]]></given-names>
</name>
</person-group>
<source><![CDATA[Theoretical and Practical Issues on Cellular Automata]]></source>
<year>2001</year>
<page-range>99-107</page-range><publisher-loc><![CDATA[London ]]></publisher-loc>
<publisher-name><![CDATA[Springer]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B19">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Page]]></surname>
<given-names><![CDATA[S. E.]]></given-names>
</name>
</person-group>
<source><![CDATA[Diversity and complexity]]></source>
<year>2011</year>
<publisher-loc><![CDATA[Princeton, NJ ]]></publisher-loc>
<publisher-name><![CDATA[Princeton University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B20">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Radner]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Rational expectations equilibrium generic existence and the information revealed by prices]]></article-title>
<source><![CDATA[Econometrica]]></source>
<year>1979</year>
<volume>47</volume>
<numero>3</numero>
<issue>3</issue>
<page-range>655-78</page-range></nlm-citation>
</ref>
<ref id="B21">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Sell]]></surname>
<given-names><![CDATA[F.]]></given-names>
</name>
</person-group>
<source><![CDATA[Contagion in financial Markets]]></source>
<year>2001</year>
<publisher-loc><![CDATA[Northampton, MA ]]></publisher-loc>
<publisher-name><![CDATA[Edward Elgar]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B22">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Semet]]></surname>
<given-names><![CDATA[Y.]]></given-names>
</name>
<name>
<surname><![CDATA[Gelly]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
<name>
<surname><![CDATA[Schoenauer]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
<name>
<surname><![CDATA[Sebag]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Artificial agent and speculative bubbles]]></article-title>
<source><![CDATA[Computational Finance and its Applications]]></source>
<year>2004</year>
<page-range>35-44</page-range><publisher-loc><![CDATA[Southampton, U.K. ]]></publisher-loc>
<publisher-name><![CDATA[WIT Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B23">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Simon]]></surname>
<given-names><![CDATA[H.]]></given-names>
</name>
</person-group>
<source><![CDATA[Las ciencias de lo artificial]]></source>
<year>2006</year>
<publisher-loc><![CDATA[Granada ]]></publisher-loc>
<publisher-name><![CDATA[Comares]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B24">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Valenzuela]]></surname>
<given-names><![CDATA[M. L. M.]]></given-names>
</name>
<name>
<surname><![CDATA[Aguilera]]></surname>
<given-names><![CDATA[B. F.]]></given-names>
</name>
<name>
<surname><![CDATA[Soria L.]]></surname>
<given-names><![CDATA[J.A.]]></given-names>
</name>
<name>
<surname><![CDATA[Molero]]></surname>
<given-names><![CDATA[M. E.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Creation and evolution of development scenarios for metropolitan patters]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Paegelow]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
<name>
<surname><![CDATA[Camacho]]></surname>
<given-names><![CDATA[M. T.]]></given-names>
</name>
</person-group>
<source><![CDATA[Modelling environmental dynamics: Advances in geomatics solutions]]></source>
<year>2008</year>
<page-range>339-62</page-range><publisher-loc><![CDATA[Berlin ]]></publisher-loc>
<publisher-name><![CDATA[Springer-Verlag]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B25">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Weaver]]></surname>
<given-names><![CDATA[W.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Science and complexity]]></article-title>
<source><![CDATA[American Scientist]]></source>
<year>1948</year>
<volume>36</volume>
<numero>4</numero>
<issue>4</issue>
<page-range>536-44</page-range></nlm-citation>
</ref>
<ref id="B26">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Zeigler]]></surname>
<given-names><![CDATA[B.]]></given-names>
</name>
<name>
<surname><![CDATA[Praehofer]]></surname>
<given-names><![CDATA[H.]]></given-names>
</name>
<name>
<surname><![CDATA[Kim]]></surname>
<given-names><![CDATA[T. G.]]></given-names>
</name>
</person-group>
<source><![CDATA[Theory of modelling and simulation, integrating discrete event and continues complex dynamic systems]]></source>
<year>2000</year>
<publisher-loc><![CDATA[New York ]]></publisher-loc>
<publisher-name><![CDATA[Academic Press]]></publisher-name>
</nlm-citation>
</ref>
</ref-list>
</back>
</article>
