The Hesitation of Anxious Traders in an Agent-Based Model

Figure 1

Autocorrelation of returns in the rational scenario. This figure plots the autocorrelation of returns in the rational scenario. In the simulations, we use the parameters from Zhu et al. [35] and Amilon [82]. d is the strength regarding the behavioral hesitation and decision rigidity of the anxious agent. The length of the lag extends from 1 to 30.