Research Article

The Hesitation of Anxious Traders in an Agent-Based Model

Table 7

Calibrated parameters of the model. Note: In this table, the calibrated parameters of the model are presented, including and in price determination, as well as in modeling the fundamental price. d denotes the magnitude of the behavioral hesitation and decision rigidity of the anxious agent.

d

Panel A: the rational scenario
10.9327.6294.943
20.9496.8439.123
30.9446.8469.066
40.9466.8819.750
50.9497.2189.776

Panel B: the irrational scenario
d
10.9866.4138.959
20.9496.8439.123
30.9456.8637.558
40.9476.65014.604
50.9157.72612.878