in each asset, e.g. because traders maximize an expected Constant Relative Risk Aversion utility with unitary coefficient … dependent fractions, e.g. they are derived from the maximization of expected Constant Relative Risk Aversion utility with non …

investment rules that depend on endogenously determined current and past prices. We find that market instability, leading to …, conditioning investment decisions on asset prices implies that dominance of an investment rule on others, as measured by the …. Second, the feedback existing between past realized prices and current investment decisions can lead to a form of …

are distinguished: in the model under risk, when probabilities of future reproductive success are known, natural selection …

investment decisions upon market forecasting heuristics. Prices and beliefs about future prices co-evolve over time with mutual …

established by maximizing the expected utility of an S-shaped utility function -- exhibiting risk loving below the aspiration … level and risk aversion beyond it …

. Experiment: We conduct the 2 × 2 game, of which the payoff matrix is [(2,2),(5,5);(0,0),(15,-5)] (Dawkins (1976)), in … round. Total 192 undergraduates students involve in the experiment. Measurement and Result: The mean frequency is (0.604, 0 …

This paper aims to analyze subjects' behavior in an experiment on evolutionary process of prisoners' dilemma game. The … experiment has been designed by using sixteen one-shot prisoners' dilemma games with payoffs perturbation and random matching … players under perfect information. The subjects of the experiment were students and staff in Universitas Gadjah Mada …

. In alaboratory experiment we test the different theories by systematically varying informationconditions. We find that …