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Twitter: A Digital Socioscope by Michael W. Macy, Ingmar Weber, Yelena Mejova

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3 Socioeconomic Indicators

Huina Mao

1. Introduction

There has been considerable success in leveraging large-scale social media data at the intersection of social sciences and computational sciences with myriad applications in socioeconomic measurement and prediction.

An early study (Antweiler & Frank, 2004) finds that the message volume of stock message boards on Yahoo! Finance1 and Raging Bull2 can predict market volatility, and disagreement among posted messages is related to high trading volume. Public mood indicators extracted from social networks such as Facebook (Karabulut, 2011), LiveJournal (Gilbert & Karahalios, 2010), and Twitter (Bollen, Mao, & Zeng, 2011) can predict stock market fluctuations. Zhang, Fuehres, and Gloor (2010) study ...

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