id: 05916906
dt: a
an: 05916906
au: Chen, Shu-Heng; Liou, Wen-Ching; Chen, Ting-Yu
ti: A culture-sensitive agent in Kirman’s ant model.
so: Salerno, John (ed.) et al., Social computing, behavioral-cultural modeling
    and prediction. 4th international conference, SBP 2011, College Park,
    MD, USA, March 29‒31, 2011. Proceedings. Berlin: Springer (ISBN
    978-3-642-19655-3/pbk). Lecture Notes in Computer Science 6589, 341-348
    (2011).
py: 2011
pu: Berlin: Springer
la: EN
cc: 
ut: culture; national culture; simulation; agent-based model; herding;
    conformity
ci: 
li: doi:10.1007/978-3-642-19656-0_47
ab: Summary: The global financial crisis brought a serious collapse involving a
    “systemic” meltdown. Internet technology and globalization have
    increased the chances for interaction between countries and people. The
    global economy has become more complex than ever before. Mark Buchanan
    [12] indicated that agent-based computer models will prevent another
    financial crisis and has been particularly influential in contributing
    insights. There are two reasons why culture-sensitive agent on the
    financial market has become so important. Therefore, the aim of this
    article is to establish a culture-sensitive agent and forecast the
    process of change regarding herding behavior in the financial market.
    We based our study on the Kirman’s Ant Model[4,5] and Hofstede’s
    Natational Culture[11] to establish our culture-sensitive agent based
    model. Kirman’s Ant Model is quite famous and describes financial
    market herding behavior from the expectations of the future of
    financial investors. Hofstede’s cultural consequence used the staff
    of IBM in 72 different countries to understand the cultural difference.
    As a result, this paper focuses on one of the five dimensions of
    culture from Hofstede: individualism versus collectivism and creates a
    culture-sensitive agent and predicts the process of change regarding
    herding behavior in the financial market. To conclude, this study will
    be of importance in explaining the herding behavior with cultural
    factors, as well as in providing researchers with a clearer
    understanding of how herding beliefs of people about different cultures
    relate to their finance market strategies.
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