{"id":"https://openalex.org/W2060604855","doi":"https://doi.org/10.1142/s0219622006002052","title":"BSV INVESTORS VERSUS RATIONAL INVESTORS: AN AGENT-BASED COMPUTATIONAL FINANCE MODEL","display_name":"BSV INVESTORS VERSUS RATIONAL INVESTORS: AN AGENT-BASED COMPUTATIONAL FINANCE MODEL","publication_year":2006,"publication_date":"2006-09-01","ids":{"openalex":"https://openalex.org/W2060604855","doi":"https://doi.org/10.1142/s0219622006002052","mag":"2060604855"},"language":"en","primary_location":{"id":"doi:10.1142/s0219622006002052","is_oa":false,"landing_page_url":"https://doi.org/10.1142/s0219622006002052","pdf_url":null,"source":{"id":"https://openalex.org/S207089700","display_name":"International Journal of Information Technology & Decision Making","issn_l":"0219-6220","issn":["0219-6220","1793-6845"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319815","host_organization_name":"World Scientific","host_organization_lineage":["https://openalex.org/P4310319815"],"host_organization_lineage_names":["World Scientific"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Information Technology &amp; Decision Making","raw_type":"journal-article"},"type":"article","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/A5100672780","display_name":"Wei Zhang","orcid":"https://orcid.org/0000-0002-9229-0513"},"institutions":[{"id":"https://openalex.org/I193524592","display_name":"Tianjin University of Finance and Economics","ror":"https://ror.org/05ev1jb90","country_code":"CN","type":"education","lineage":["https://openalex.org/I193524592"]},{"id":"https://openalex.org/I162868743","display_name":"Tianjin University","ror":"https://ror.org/012tb2g32","country_code":"CN","type":"education","lineage":["https://openalex.org/I162868743"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"WEI ZHANG","raw_affiliation_strings":["School of Management, Tianjin University, Tianjin, 300072, China","Tianjin University of Finance and Economics, Tianjin, 300222, China"],"affiliations":[{"raw_affiliation_string":"School of Management, Tianjin University, Tianjin, 300072, China","institution_ids":["https://openalex.org/I162868743"]},{"raw_affiliation_string":"Tianjin University of Finance and Economics, Tianjin, 300222, China","institution_ids":["https://openalex.org/I193524592"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5003760802","display_name":"Yongjie Zhang","orcid":"https://orcid.org/0000-0002-1623-232X"},"institutions":[{"id":"https://openalex.org/I162868743","display_name":"Tianjin University","ror":"https://ror.org/012tb2g32","country_code":"CN","type":"education","lineage":["https://openalex.org/I162868743"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"YONGJIE ZHANG","raw_affiliation_strings":["School of Management, Tianjin University, Tianjin, 300072, China","School of Management , Tianjin University , Tianjin 300072, China)"],"affiliations":[{"raw_affiliation_string":"School of Management, Tianjin University, Tianjin, 300072, China","institution_ids":["https://openalex.org/I162868743"]},{"raw_affiliation_string":"School of Management , Tianjin University , Tianjin 300072, China)","institution_ids":["https://openalex.org/I162868743"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5100752679","display_name":"Xiong Xiong","orcid":"https://orcid.org/0000-0002-6139-8337"},"institutions":[{"id":"https://openalex.org/I162868743","display_name":"Tianjin University","ror":"https://ror.org/012tb2g32","country_code":"CN","type":"education","lineage":["https://openalex.org/I162868743"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"XIONG XIONG","raw_affiliation_strings":["School of Management, Tianjin University, Tianjin, 300072, China","School of Management , Tianjin University , Tianjin 300072, China)"],"affiliations":[{"raw_affiliation_string":"School of Management, Tianjin University, Tianjin, 300072, China","institution_ids":["https://openalex.org/I162868743"]},{"raw_affiliation_string":"School of Management , Tianjin University , Tianjin 300072, China)","institution_ids":["https://openalex.org/I162868743"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5005730481","display_name":"Jin Xi","orcid":"https://orcid.org/0000-0001-7717-7830"},"institutions":[{"id":"https://openalex.org/I193524592","display_name":"Tianjin University of Finance and Economics","ror":"https://ror.org/05ev1jb90","country_code":"CN","type":"education","lineage":["https://openalex.org/I193524592"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"XI JIN","raw_affiliation_strings":["Department of Finance, Tianjin University of Finance and Economics, Tianjin, 300222, China","Department of Finance, Tianjin University of Finance and Economics, Tianjin 300222, China)"],"affiliations":[{"raw_affiliation_string":"Department of Finance, Tianjin University of Finance and Economics, Tianjin, 300222, China","institution_ids":["https://openalex.org/I193524592"]},{"raw_affiliation_string":"Department of Finance, Tianjin University of Finance and Economics, Tianjin 300222, China)","institution_ids":["https://openalex.org/I193524592"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":4,"corresponding_author_ids":["https://openalex.org/A5100672780"],"corresponding_institution_ids":["https://openalex.org/I162868743","https://openalex.org/I193524592"],"apc_list":null,"apc_paid":null,"fwci":1.6405,"has_fulltext":false,"cited_by_count":22,"citation_normalized_percentile":{"value":0.86709558,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"05","issue":"03","first_page":"455","last_page":"466"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9997000098228455,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9997000098228455,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"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/T11270","display_name":"Complex Systems and Time Series Analysis","score":0.9997000098228455,"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/T12137","display_name":"Economic theories and models","score":0.9954000115394592,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/mean-reversion","display_name":"Mean reversion","score":0.7080549001693726},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.5844228863716125},{"id":"https://openalex.org/keywords/stock","display_name":"Stock (firearms)","score":0.54340660572052},{"id":"https://openalex.org/keywords/behavioral-economics","display_name":"Behavioral economics","score":0.5345593690872192},{"id":"https://openalex.org/keywords/institutional-investor","display_name":"Institutional investor","score":0.5291353464126587},{"id":"https://openalex.org/keywords/financial-economics","display_name":"Financial economics","score":0.5087438225746155},{"id":"https://openalex.org/keywords/rational-expectations","display_name":"Rational expectations","score":0.4256812334060669},{"id":"https://openalex.org/keywords/financial-market","display_name":"Financial market","score":0.4217737019062042},{"id":"https://openalex.org/keywords/rational-agent","display_name":"Rational agent","score":0.4212648868560791},{"id":"https://openalex.org/keywords/stock-market","display_name":"Stock market","score":0.41301190853118896},{"id":"https://openalex.org/keywords/monetary-economics","display_name":"Monetary economics","score":0.34038007259368896},{"id":"https://openalex.org/keywords/econometrics","display_name":"Econometrics","score":0.32352954149246216},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.26475435495376587}],"concepts":[{"id":"https://openalex.org/C135205223","wikidata":"https://www.wikidata.org/wiki/Q367137","display_name":"Mean reversion","level":2,"score":0.7080549001693726},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5844228863716125},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.54340660572052},{"id":"https://openalex.org/C109574028","wikidata":"https://www.wikidata.org/wiki/Q647525","display_name":"Behavioral economics","level":2,"score":0.5345593690872192},{"id":"https://openalex.org/C206757995","wikidata":"https://www.wikidata.org/wiki/Q1665188","display_name":"Institutional investor","level":3,"score":0.5291353464126587},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.5087438225746155},{"id":"https://openalex.org/C96016098","wikidata":"https://www.wikidata.org/wiki/Q853949","display_name":"Rational expectations","level":2,"score":0.4256812334060669},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.4217737019062042},{"id":"https://openalex.org/C31772880","wikidata":"https://www.wikidata.org/wiki/Q2666479","display_name":"Rational agent","level":2,"score":0.4212648868560791},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.41301190853118896},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.34038007259368896},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.32352954149246216},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.26475435495376587},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C133425853","wikidata":"https://www.wikidata.org/wiki/Q60571","display_name":"Neoclassical economics","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1142/s0219622006002052","is_oa":false,"landing_page_url":"https://doi.org/10.1142/s0219622006002052","pdf_url":null,"source":{"id":"https://openalex.org/S207089700","display_name":"International Journal of Information Technology & Decision Making","issn_l":"0219-6220","issn":["0219-6220","1793-6845"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319815","host_organization_name":"World Scientific","host_organization_lineage":["https://openalex.org/P4310319815"],"host_organization_lineage_names":["World Scientific"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Information Technology &amp; Decision Making","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:wsi:ijitdm:v:05:y:2006:i:03:n:s0219622006002052","is_oa":false,"landing_page_url":"http://www.worldscientific.com/doi/abs/10.1142/S0219622006002052","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:RePEc:wsi:ijitdm:v:05:y:2006:i:03:p:455-466","is_oa":false,"landing_page_url":"http://www.worldscinet.com/cgi-bin/details.cgi?type=html&amp;id=pii:S0219622006002052","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320321001","display_name":"National Natural Science Foundation of China","ror":"https://ror.org/01h0zpd94"}],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":20,"referenced_works":["https://openalex.org/W1576237723","https://openalex.org/W1578222802","https://openalex.org/W1591099623","https://openalex.org/W1598444752","https://openalex.org/W1872908693","https://openalex.org/W2005711429","https://openalex.org/W2017474768","https://openalex.org/W2029056003","https://openalex.org/W2050643653","https://openalex.org/W2090637028","https://openalex.org/W2113974538","https://openalex.org/W2128633294","https://openalex.org/W2144487825","https://openalex.org/W2145535248","https://openalex.org/W2146930477","https://openalex.org/W3011865677","https://openalex.org/W3094633476","https://openalex.org/W3122727604","https://openalex.org/W4229815463","https://openalex.org/W4300567850"],"related_works":["https://openalex.org/W3183457448","https://openalex.org/W1504375953","https://openalex.org/W3144489178","https://openalex.org/W1587755504","https://openalex.org/W3121482706","https://openalex.org/W2153660377","https://openalex.org/W3121456212","https://openalex.org/W2028583437","https://openalex.org/W3125956020","https://openalex.org/W2132027448"],"abstract_inverted_index":{"BSV":[0,23,60,83,125,154],"(Barberis,":[1],"Shleifer":[2],"and":[3,32,39,66,85,97,116],"Vishny":[4],"[Journal":[5],"of":[6,14,45,78,106,114,143],"Financial":[7],"Economics49":[8],"(1998)":[9],"307\u2013343])":[10],"model":[11,24,77],"is":[12,25,33,62,121,151],"one":[13],"the":[15,49,55,79,91,104,112,124,146],"three":[16],"major":[17],"behavioral":[18,28],"finance":[19],"models.":[20],"The":[21],"existing":[22],"about":[26],"how":[27],"investors":[29,53,61,84,108,126,155],"form":[30,139],"beliefs,":[31],"able":[34],"to":[35,130,159],"produce":[36],"both":[37],"overreaction":[38,115],"mean-reversion":[40],"for":[41],"a":[42,63,140],"wide":[43],"range":[44],"parameter":[46],"values.":[47],"However,":[48],"assumption":[50],"that":[51,123,153],"all":[52,58],"in":[54],"market":[56,94],"must":[57],"be":[59],"little":[64],"strict":[65],"remains":[67],"controversial.":[68],"In":[69],"this":[70],"paper,":[71],"we":[72],"present":[73],"an":[74],"agent-based":[75],"computational":[76],"dynamic":[80],"game":[81],"between":[82],"rational":[86,107],"investors.":[87],"Time":[88],"series":[89],"from":[90],"artificial":[92],"stock":[93],"are":[95,101,156],"analyzed":[96],"two":[98],"interesting":[99],"findings":[100],"reported.":[102],"First,":[103],"introduction":[105],"will":[109,127],"not":[110],"eliminate":[111],"anomalies":[113],"mean-reversion.":[117],"Second,":[118],"no":[119],"evidence":[120,150],"found":[122],"lose":[128],"money":[129],"their":[131,134],"counterparts":[132],"although":[133],"cognitive":[135],"bias":[136],"makes":[137],"them":[138],"false":[141],"kind":[142],"expectation.":[144],"On":[145],"contrary,":[147],"some":[148],"weak":[149],"reported":[152],"less":[157],"likely":[158],"bankrupt.":[160]},"counts_by_year":[{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":2},{"year":2013,"cited_by_count":2},{"year":2012,"cited_by_count":4}],"updated_date":"2026-04-05T17:49:38.594831","created_date":"2025-10-10T00:00:00"}
