title: |
Emergence of Overconfidence Investors in Financial Markets |
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publication: |
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part of series: |
Advances in Intelligent Systems Research | |
ISBN: |
978-90-78677-01-7 | |
ISSN: |
1951-6851 | |
DOI: |
doi:10.2991/jcis.2006.338 (how to use a DOI) | |
author(s): |
Hiroshi Takahashi, Takao Terano |
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publication date: |
October 2006 |
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keywords: |
Finance, Multi-Agent System, Behavioral Economics, Overconfidence, Inverse Simulation |
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abstract: |
This research utilizes the Agent-Based Model to clarify microscopic and macroscopic links between investor behavior and price fluctuations in the financial market. This analysis places focus on the role that investors’ overconfidence plays in the financial market. As a result of this analysis, it has been found that overconfident investors are generated in a bottom-up fashion in the market. |
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copyright: |
©
Atlantis Press. This is an open-access article distributed under the
terms of the Creative Commons Attribution License, which permits
non-commercial use, distribution and reproduction in any medium,
provided the original work is properly cited. |
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full text: |