  We attempt to explain stock market dynamics in terms of the interaction among
three variables: market price, investor opinion and information flow. We
propose a framework for such interaction and apply it to build a model of stock
market dynamics which we study both empirically and theoretically. We
demonstrate that this model replicates observed market behavior on all relevant
timescales (from days to years) reasonably well. Using the model, we obtain and
discuss a number of results that pose implications for current market theory
and offer potential practical applications.
