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The Role of Liquidity Individuals in the Decision-Making

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Author Info
Steinbacher, Matjaz

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Abstract

We simulate social network games of a portfolio selection to analyze the role of liquidity individuals for the developments in individuals’ decision-making in financial markets. Liquidity individuals prove to be a significant element in the decision-making process of the entire network, as they keep the information of non-dominant strategies alive. Their role is especially significant under omniscient individuals, whereas a little less under non-omniscient individuals. As long as individuals do not lose the information of all the alternatives, their role is insignificant.

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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 13566.

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Date of creation: 2009
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Handle: RePEc:pra:mprapa:13566

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Related research
Keywords: social networks; portfolio analysis; stochastic finance;

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Find related papers by JEL classification:
G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
Z13 - Other Special Topics - - Cultural Economics - - - Social Norms and Social Capital; Social Networks Economic Anthropology
C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. David Hirshleifer, 2001. "Investor Psychology and Asset Pricing," Journal of Finance, American Finance Association, vol. 56(4), pages 1533-1597, 08. [Downloadable!] (restricted)
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  2. Banerjee, Abhijit V, 1992. "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, MIT Press, vol. 107(3), pages 797-817, August. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Steinbacher, Matjaz, 2009. "Behavior of Investors on a Multi-Asset Market," MPRA Paper 15898, University Library of Munich, Germany. [Downloadable!]
  2. Steinbacher, Matjaz, 2009. "Value-at-Risk versus Non-Value-at-Risk Traders," MPRA Paper 14295, University Library of Munich, Germany. [Downloadable!]
  3. Steinbacher, Matjaz, 2009. "What is the “value” of value-at-risk in a simulated portfolio decision-making game?," MPRA Paper 13866, University Library of Munich, Germany. [Downloadable!]
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This page was last updated on 2009-11-29.

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