چکیده:
One of the efficiency assumptions of stock market is that investors act rationally, but the results of researchers' scholars show that in many cases, investors in the stock market have irrational behavior. The present study show irrational behavior. In the present article, two types of personalities are considered for shareholders in the stock market. The first group has an impulsivity personality and the second group has an oscillating personality. Traders who have an impulsivity personality buy stocks when prices increased and sold when prices decreased. On the other hand, there are oscillators who buy when prices dropped and sold when prices increased. The innovation of the present study is to provide a dynamic model for analyzing the behavior of investors by agent-based modeling and considering their various personalities of trader’s behavior in NetLogo software environment. Finally, after designed model, the validity of the model is assessed which results indicate high validity of the designed model in the simulation environment. The results show that the percentage of shareholders with oscillating and impulsivity personality in the price balance is distributed to 52% and 48% between impulsivity and oscillating shareholders.
خلاصه ماشینی:
Agent-Based Modeling of Shareholder Behavior in the Tehran Stock Exchange (Case Study: Mobarakeh Steel Company of Isfahan) Salman Abbasi Sir1, Mohsen Hashemi Gohar2*, Ammar Fayzi 3 1.
The innovation of the present research is the provision of a dynamic model for analyzing investor behavior by considering agent-based modeling of shareholder behavior, taking into account their diverse personality characteristics, and performing sensitivity analysis of trading behavior under the NetLogo software environment.
Keywords: Tehran Stock Exchange, shareholder behavior, simulation, personality characteristics, agent-based modeling ـــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــ * Corresponding author E-mail: m.
Since it can be assumed that the Tehran Stock Exchange 1 does not possess the necessary efficiency, therefore, a better understanding of the behavioral biases of traders 2 will help maintain market equilibrium and reduce the fragility of financial systems [1].
The innovation of the present research lies in considering the agent-based modeling of trader and shareholder behavior 6, taking into account their diverse personality traits, and performing sensitivity analysis under the NetLogo 7 software environment.
This model was based on two factors: volatile and emotional investors, and by implementing this model, the goals of identifying the dynamics of trader behavior and the dynamics of the Tehran Stock Exchange market were achieved, which has many competitive advantages compared to previous models.
, and Ebadpour, B, Assessment of the behavioral determinants of individual investors in Tehran Stock Exchange based on structural equation modeling.
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