The Hesitation of Anxious Traders in an Agent-Based Model

Figure 3

Autocorrelation of returns in the rational scenario. This figure shows the autocorrelation of returns in the rational scenario. The parameters of price determination and the fundamental price used in simulations are calibrated. d represents the magnitude of behavioral hesitation and decision rigidity, which ranges from 1 to 5. The lengths of the lags range from 1 to 30.