Can Irrational Investors Survive? A Social-Computing Perspective
Yongjie Zhang; Wei Zhang
Intelligent Systems, IEEE
Volume 22, Issue 5, Sept.-Oct. 2007 Page(s):58 - 64
Digital Object Identifier   10.1109/MIS.2007.4338495
Summary:Standard financial theory includes a rigorous theoretical system for equilibrium asset pricing. Among the assumptions this system is founded on is the necessity of investors' homogeneity and rationality. The proposed agent-based model accounts for interactions between irrational and rational investors, expanding on existing work and offering hope for irrational-investor survival in artificial stock markets.

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