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Title: Agent-based modeling of lottery markets with the expected-utility paradigm
Authors: Chen, Shu-heng;Chie, Bin-tzong;Lee, Chia-wei
Contributors: 經濟系
Date: 2005
Issue Date: 2015-04-28 14:29:27 (UTC+8)
Abstract: This paper proposes an agent-based computational model of a lottery market based on an expected-utility paradigm, in which agents' decisions regarding lottery participation are based on their own subjective beliefs, and those beliefs are evolving over time with genetic algorithms. The simulation results are then compared with another agent-based lottery market with different agent engineering. It is found that almost all emergent properties, such as the Laffer curve, the halo effect (lottomania), conscious-selection behavior, and the interdependent preference (regretting effect) are qualitatively robust with these two different designs of agents
Relation: Evolutionary Computation, 2005. The 2005 IEEE Congress on (Volume:1 ),366-373
Data Type: article
ISBN: 10.1109/CEC.2005.1554707
Appears in Collections:[經濟學系] 期刊論文

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