Theory of Moves (TOM) is a novel approach to game theory for determining rational strategies during the play of dynamic games [2]. While alternate models such as normal form games exist, players of these games are limited to single shot interactions with each other, but within TOM, sequences of moves and counter moves are allowed. As a consequence of this framework potential cyclic behavior may...

We develop a model of reference-dependent preferences and loss aversion where “gain–loss utility” is derived from standard “consumption utility” and the reference point is determined endogenously by the economic environment. We assume that a person’s reference point is her rational expectations held in the recent past about outcomes, which are determined in a personal equilibrium by the require...

In this chapter, we conduct a comparative study of various traders following different trading strategies. We design an agent-based artificial stock market consisting of two opposing types of traders: “rational traders” (or “fundamentalists”) and “imitators” (or “chartists”). Rational traders trade by trying to optimize their short-term income. On the other hand, imitators trade by copying the ...

a semi-micromechanical multilaminate model is introduced here to predict the mechanical behavior of soils. this model is like a bridge between micro and macro scale upon the satisfaction of minimum potential energy level during any applied stress/strain increments. the concept of this model is based on a certain number of sampling planes which constitute the elastic-plastic behavior of the soil...

abstract theories of behavior consumer deal with human behaviors as a being with will and purpose, so they are based on specific assumptions about the human nature and fundamentals of decision making. these assumptions often have ideological roots in different value systems consequently they are different in various these systems. the aim of this paper is to investigate these assumptions in the...