Before revision:  Allowing for random time-varying herding propensity, we are able to reproduce several  stylized facts of financial markets such as a fat-tail distribution of returns , volatility clusteringand transient faster-than-exponential bubble growth with approximate log-periodic behavior  .
After revision:  Allowing for random time-varying herding propensity, we are able to reproduce several stylized facts of financial markets such as a fat-tail distribution of returns , volatility clusteringand transient faster-than-exponential bubble growth with approximate log-periodic behavior and give analytical arguments why this follows from our framework .