2011 Fiscal Year Final Research Report
Refining Human Decision-Making Models with Biological Data and Financial Markets
| Project/Area Number |
21530313
|
|---|
| Research Category |
Grant-in-Aid for Scientific Research (C)
|
| Allocation Type | Single-year Grants |
|---|
| Section | 一般 |
|---|
| Research Field |
Public finance/Monetary economics
|
|---|
| Research Institution | Tokyo University of Science |
|---|
Principal Investigator |
|
|---|
| Project Period (FY) |
2009 – 2011
|
| Keywords | ファイナンス / ニューロエコノミクス / 意思決定 / fNIRS / 人工市場 |
|---|
| Research Abstract |
Recent development of neuroscience has spurred revision of models of decision-making under risk, as have been used thus far in economics, based on assumptions of axiomatically defined rationality and prompted the construction of new, more realistic models of bounded rationality decision-making. This study tries to refine decision-making models by using biological data and provide a market foundation for the decision-making model observed in financial markets.
First, we conducted experiments and described a trade behavior which refines existing learning-models. Next, we conducted an agent-based simulation using an artificial market model with selection pressures in order to check whether the observed bounded rationality could have an evolutionary basis.
|
