The role of cognitively biased imitators in a small scale agent-based financial market
We analyze the consequences of the presence of imitators in a financial market populated by boundedly rational speculators. We consider imitators that only look at the recent success of the available trading rules. We show that the introduction of this kind of imitators makes the results more complicated but even more realistic. In particular, under some specific circumstances, imitators may stabilize an otherwise unstable market or, at the opposite, make unstable an otherwise stable scenario.
|Date of creation:||Jan 2013|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://epmq.unipv.eu/site/home.html
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:pav:demwpp:029. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alice Albonico)
If references are entirely missing, you can add them using this form.