{"id":"https://openalex.org/W1542716407","doi":"https://doi.org/10.1109/cec.2005.1554707","title":"Agent-Based Modeling of Lottery Markets with the Expected-Utility Paradigm","display_name":"Agent-Based Modeling of Lottery Markets with the Expected-Utility Paradigm","publication_year":2005,"publication_date":"2005-12-13","ids":{"openalex":"https://openalex.org/W1542716407","doi":"https://doi.org/10.1109/cec.2005.1554707","mag":"1542716407"},"language":"en","primary_location":{"id":"doi:10.1109/cec.2005.1554707","is_oa":false,"landing_page_url":"https://doi.org/10.1109/cec.2005.1554707","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"2005 IEEE Congress on Evolutionary Computation","raw_type":"proceedings-article"},"type":"conference-paper","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5079473592","display_name":"Shu\u2010Heng Chen","orcid":"https://orcid.org/0000-0003-4584-7646"},"institutions":[{"id":"https://openalex.org/I87354575","display_name":"National Chengchi University","ror":"https://ror.org/03rqk8h36","country_code":"TW","type":"education","lineage":["https://openalex.org/I87354575"]}],"countries":["TW"],"is_corresponding":false,"raw_author_name":"Shu-Heng Chen","raw_affiliation_strings":["AI-ECON Research Center, Department of Economics, National Chengchi University, Taipei, Taiwan","Department of Economics, National Chengchi University, Taipei"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"AI-ECON Research Center, Department of Economics, National Chengchi University, Taipei, Taiwan","institution_ids":["https://openalex.org/I87354575"]},{"raw_affiliation_string":"Department of Economics, National Chengchi University, Taipei","institution_ids":["https://openalex.org/I87354575"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5032754383","display_name":"Bin-Tzong Chie","orcid":null},"institutions":[{"id":"https://openalex.org/I87354575","display_name":"National Chengchi University","ror":"https://ror.org/03rqk8h36","country_code":"TW","type":"education","lineage":["https://openalex.org/I87354575"]}],"countries":["TW"],"is_corresponding":false,"raw_author_name":"Bin-Tzong Chie","raw_affiliation_strings":["AI-ECON Research Center, Department of Economics, National Chengchi University, Taipei, Taiwan","Department of Economics, National Chengchi University, Taipei"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"AI-ECON Research Center, Department of Economics, National Chengchi University, Taipei, Taiwan","institution_ids":["https://openalex.org/I87354575"]},{"raw_affiliation_string":"Department of Economics, National Chengchi University, Taipei","institution_ids":["https://openalex.org/I87354575"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5015598447","display_name":"Chia\u2010Wei Lee","orcid":"https://orcid.org/0000-0002-5337-0473"},"institutions":[{"id":"https://openalex.org/I87354575","display_name":"National Chengchi University","ror":"https://ror.org/03rqk8h36","country_code":"TW","type":"education","lineage":["https://openalex.org/I87354575"]}],"countries":["TW"],"is_corresponding":false,"raw_author_name":"Chia-Wei Lee","raw_affiliation_strings":["AI-ECON Research Center, Department of Economics, National Chengchi University, Taipei, Taiwan","Department of Economics, National Chengchi University, Taipei"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"AI-ECON Research Center, Department of Economics, National Chengchi University, Taipei, Taiwan","institution_ids":["https://openalex.org/I87354575"]},{"raw_affiliation_string":"Department of Economics, National Chengchi University, Taipei","institution_ids":["https://openalex.org/I87354575"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I87354575"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":1,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":"1","issue":null,"first_page":"366","last_page":"373"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11705","display_name":"Gambling Behavior and Treatments","score":0.9987000226974487,"subfield":{"id":"https://openalex.org/subfields/3203","display_name":"Clinical Psychology"},"field":{"id":"https://openalex.org/fields/32","display_name":"Psychology"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11705","display_name":"Gambling Behavior and Treatments","score":0.9987000226974487,"subfield":{"id":"https://openalex.org/subfields/3203","display_name":"Clinical Psychology"},"field":{"id":"https://openalex.org/fields/32","display_name":"Psychology"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11674","display_name":"Sports Analytics and Performance","score":0.9944000244140625,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11574","display_name":"Artificial Intelligence in Games","score":0.9861999750137329,"subfield":{"id":"https://openalex.org/subfields/1702","display_name":"Artificial Intelligence"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/lottery","display_name":"Lottery","score":0.9716026186943054},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.6510803699493408},{"id":"https://openalex.org/keywords/interdependence","display_name":"Interdependence","score":0.6019692420959473},{"id":"https://openalex.org/keywords/preference","display_name":"Preference","score":0.5945427417755127},{"id":"https://openalex.org/keywords/expected-utility-hypothesis","display_name":"Expected utility hypothesis","score":0.4753689169883728},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.4710048735141754},{"id":"https://openalex.org/keywords/selection","display_name":"Selection (genetic algorithm)","score":0.4412071704864502},{"id":"https://openalex.org/keywords/artificial-intelligence","display_name":"Artificial intelligence","score":0.4374704957008362},{"id":"https://openalex.org/keywords/utility-theory","display_name":"Utility theory","score":0.43049150705337524},{"id":"https://openalex.org/keywords/agent-based-model","display_name":"Agent-based model","score":0.4293716549873352},{"id":"https://openalex.org/keywords/machine-learning","display_name":"Machine learning","score":0.3686005473136902},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.3602070212364197},{"id":"https://openalex.org/keywords/mathematical-economics","display_name":"Mathematical economics","score":0.2323864996433258}],"concepts":[{"id":"https://openalex.org/C2777340749","wikidata":"https://www.wikidata.org/wiki/Q6684955","display_name":"Lottery","level":2,"score":0.9716026186943054},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.6510803699493408},{"id":"https://openalex.org/C185874996","wikidata":"https://www.wikidata.org/wiki/Q269699","display_name":"Interdependence","level":2,"score":0.6019692420959473},{"id":"https://openalex.org/C2781249084","wikidata":"https://www.wikidata.org/wiki/Q908656","display_name":"Preference","level":2,"score":0.5945427417755127},{"id":"https://openalex.org/C205706631","wikidata":"https://www.wikidata.org/wiki/Q2319304","display_name":"Expected utility hypothesis","level":2,"score":0.4753689169883728},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.4710048735141754},{"id":"https://openalex.org/C81917197","wikidata":"https://www.wikidata.org/wiki/Q628760","display_name":"Selection (genetic algorithm)","level":2,"score":0.4412071704864502},{"id":"https://openalex.org/C154945302","wikidata":"https://www.wikidata.org/wiki/Q11660","display_name":"Artificial intelligence","level":1,"score":0.4374704957008362},{"id":"https://openalex.org/C2983295151","wikidata":"https://www.wikidata.org/wiki/Q466707","display_name":"Utility theory","level":2,"score":0.43049150705337524},{"id":"https://openalex.org/C2780873155","wikidata":"https://www.wikidata.org/wiki/Q392811","display_name":"Agent-based model","level":2,"score":0.4293716549873352},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.3686005473136902},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3602070212364197},{"id":"https://openalex.org/C144237770","wikidata":"https://www.wikidata.org/wiki/Q747534","display_name":"Mathematical economics","level":1,"score":0.2323864996433258},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1109/cec.2005.1554707","is_oa":false,"landing_page_url":"https://doi.org/10.1109/cec.2005.1554707","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"2005 IEEE Congress on Evolutionary Computation","raw_type":"proceedings-article"}],"best_oa_location":null,"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":4,"referenced_works":["https://openalex.org/W1483178598","https://openalex.org/W2007049202","https://openalex.org/W3123297718","https://openalex.org/W6979804121"],"related_works":["https://openalex.org/W736076","https://openalex.org/W2566504746","https://openalex.org/W2114786244","https://openalex.org/W2289451824","https://openalex.org/W2361936046","https://openalex.org/W2112868527","https://openalex.org/W3122419047","https://openalex.org/W133376244","https://openalex.org/W2624935357","https://openalex.org/W2996001528"],"abstract_inverted_index":{"This":[0],"paper":[1],"proposes":[2],"an":[3,13],"agent-based":[4,48],"computational":[5],"model":[6],"of":[7,88],"a":[8],"lottery":[9,21,49],"market":[10,50],"based":[11,24],"on":[12,25],"expected-utility":[14],"paradigm,":[15],"in":[16],"which":[17],"agents'":[18],"decisions":[19],"regarding":[20],"participation":[22],"are":[23,33,43,80],"their":[26],"own":[27],"subjective":[28],"beliefs,":[29],"and":[30,74],"those":[31],"beliefs":[32],"evolving":[34],"over":[35],"time":[36],"with":[37,46,51,83],"genetic":[38],"algorithms.":[39],"The":[40],"simulation":[41],"results":[42],"then":[44],"compared":[45],"another":[47],"different":[52,86],"agent":[53],"engineering.":[54],"It":[55],"is":[56],"found":[57],"that":[58],"almost":[59],"all":[60],"emergent":[61],"properties,":[62],"such":[63],"as":[64],"the":[65,68,75],"Laffer":[66],"curve,":[67],"halo":[69],"effect":[70],"(lottomania),":[71],"conscious-selection":[72],"behavior,":[73],"interdependent":[76],"preference":[77],"(regretting":[78],"effect)":[79],"qualitatively":[81],"robust":[82],"these":[84],"two":[85],"designs":[87],"agents":[89]},"counts_by_year":[{"year":2020,"cited_by_count":1}],"updated_date":"2026-07-14T23:27:15.235271","created_date":"2025-10-10T00:00:00"}
