Examining the Relationship between Scientific Publishing Activity and Hype-Driven Financial Bubbles: A Comparison of the Dot-Com and AI Eras
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arXiv
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| Natura: | Preprint |
| Pubblicazione: |
2025
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| author | Chelikavada, Aksheytha Bennett, Casey C. |
| author_facet | Chelikavada, Aksheytha Bennett, Casey C. |
| contents | Financial bubbles often arrive without much warning, but create long-lasting economic effects. For example, during the dot-com bubble, innovative technologies created market disruptions through excitement for a promised bright future. Such technologies originated from research where scientists had developed them for years prior to their entry into the markets. That raises a question on the possibility of analyzing scientific publishing data (e.g. citation networks) leading up to a bubble for signals that may forecast the rise and fall of similar future bubbles. To that end, we utilized temporal SNAs to detect possible relationships between the publication citation networks of scientists and financial market data during two modern eras of rapidly shifting technology: 1) dot-com era from 1994 to 2001 and 2) AI era from 2017 to 2024. Results showed that the patterns from the dot-com era (which did end in a bubble) did not definitively predict the rise and fall of an AI bubble. While yearly citation networks reflected possible changes in publishing behavior of scientists between the two eras, there was a subset of AI era scientists whose publication influence patterns mirrored those during the dot-com era. Upon further analysis using multiple analysis techniques (LSTM, KNN, AR X/GARCH), the data seems to suggest two possibilities for the AI era: unprecedented form of financial bubble unseen or that no bubble exists. In conclusion, our findings imply that the patterns present in the dot-com era do not effectively translate in such a manner to apply them to the AI market. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2509_11982 |
| institution | arXiv |
| publishDate | 2025 |
| record_format | arxiv |
| spellingShingle | Examining the Relationship between Scientific Publishing Activity and Hype-Driven Financial Bubbles: A Comparison of the Dot-Com and AI Eras Chelikavada, Aksheytha Bennett, Casey C. Machine Learning Computers and Society Financial bubbles often arrive without much warning, but create long-lasting economic effects. For example, during the dot-com bubble, innovative technologies created market disruptions through excitement for a promised bright future. Such technologies originated from research where scientists had developed them for years prior to their entry into the markets. That raises a question on the possibility of analyzing scientific publishing data (e.g. citation networks) leading up to a bubble for signals that may forecast the rise and fall of similar future bubbles. To that end, we utilized temporal SNAs to detect possible relationships between the publication citation networks of scientists and financial market data during two modern eras of rapidly shifting technology: 1) dot-com era from 1994 to 2001 and 2) AI era from 2017 to 2024. Results showed that the patterns from the dot-com era (which did end in a bubble) did not definitively predict the rise and fall of an AI bubble. While yearly citation networks reflected possible changes in publishing behavior of scientists between the two eras, there was a subset of AI era scientists whose publication influence patterns mirrored those during the dot-com era. Upon further analysis using multiple analysis techniques (LSTM, KNN, AR X/GARCH), the data seems to suggest two possibilities for the AI era: unprecedented form of financial bubble unseen or that no bubble exists. In conclusion, our findings imply that the patterns present in the dot-com era do not effectively translate in such a manner to apply them to the AI market. |
| title | Examining the Relationship between Scientific Publishing Activity and Hype-Driven Financial Bubbles: A Comparison of the Dot-Com and AI Eras |
| topic | Machine Learning Computers and Society |
| url | https://arxiv.org/abs/2509.11982 |