Can Irrational Investors Survive? A Social-Computing Perspective

Authors:
Yongjie Zhang;Wei Zhang
Affiliations:
Tianjin University;Tianjin University and Tianjin University of Finance & Economics
Venue:
IEEE Intelligent Systems
Year:
2007

Citing 3
Cited 2

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Microscopic Simulation of Financial Markets: From Investor Behavior to Market Phenomena
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Abstract

Extending finance theories using agent-based computational methods serves two purposes. First, it contributes to solving the intractability problem in behavioral-finance research. Second, it enlarges the agent-based method's application domain. The authors describe their research to extend behavioral finance using agent-based computing, then investigate some key issues in designing artificial stock markets. As their experiments show, agent-based modeling makes a meaningful contribution in extending financial economic theories. This article is part of a special issue on social computing.