The effects of two behavioral decision making biases are evaluated within the context of a system dynamics model of a market for a commodity, overconfidence and availability. Overconfidence is modeled as an increase in the percent of a trader’s capital they are willing to commit to any trade and is found to have the effect of increasing profits for traders with good information relative to traders with poor information, as well as increasing the volatility of the returns for traders with good information more than for traders with poor information. The Availability Bias is modeled as a overweighting of information easily available to a trader and is found to have the effect of increasing the returns of traders with good information easily available to them and decreasing the returns of traders with poor information easily available.

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Date created

• 2007 July 29-2007 August 2

Type

• Document

Processing Activity

• Processing documentation available at: https://wiki.albany.edu/display/SCA/Processing+Ingested+Digital+Files

License

• Creative Commons BY-NC-ND Attribution-NonCommercial-NoDerivs 4.0 International

  
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ITEM CONTEXT

Part of

298eed5a7fe199ac661be72f3a39f134

Scope and Contents

Part of

0619e689ce89476bfd3b88323c5a9410

Scope and Contents

Part of

23d738ba88f8333bc39725f9cb5bd0b8

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Collection

System Dynamic Society Records

Scope and Contents

Collecting area

• This collection is part of the University Archives