Using the method of agent-based computational finance, this paper designs ten experiments to examine the impacts of the index futures market, typical investment strategies, and different trading mechanisms on the volatility of the Chinese stock market, taking into account the behavior of...

Using the Agent-based Computational Finance (ACF) method, we build an artificial stock market with heterogeneous adaptive investors and investigate the evolutionary and interacting relationship between rational investors and irrational investors. We find that with strategy switching, there is a...

Investors with different trading strategies can be viewed as different "species" in financial markets. Since the asset price is ultimately determined by the individual trading decisions, the combination and evolution of different trader species in financial market ecology will have great impact...

BSV (Barberis, Shleifer and Vishny [Journal of Financial Economics 49 (1998) 307–343]) model is one of the three major behavioral finance models. The existing BSV model is about how behavioral investors form beliefs, and is able to produce both overreaction and mean-reversion for a wide range...