A new cellular automaton traffic model is presented. The focus is on mechanical restrictions of vehicles realized by limited acceleration and deceleration capabilities. These features are incorporated into the model in order to construct the condition of collision-free movement. The strict collision-free criterion imposed by the mechanical restrictions is softened in certain traffic situations,...

Behavioral Finance aims to explain empirical anomalies by introducing investor psychology as a determinant of asset pricing. This study provides strong evidence that anomalous stock price behavior following earnings announcements is due to a representativeness bias. It investigates current and past earnings surprises and subsequent market reaction for listed US companies over the period 1983-19...

A 32-year-old man suffering from keratoconus was treated with radial keratotomy. Twenty weeks later, he presented visual deterioration, edema and corneal perforation. A penetrating keratoplasty was required. The postoperative course was regular, but after 9 months, the patient presented kerato-uveitis. Subsequent phlogistic relapses occurred approximately every 6 months during the following 5 y...

We study a generic model for self-referential behaviour in financial markets, where agents attempt to use some (possibly fictitious) causal correlations between a certain quantitative information and the price itself. This correlation is estimated using the past history itself, and is used by a fraction of agents to devise active trading strategies. The impact of these strategies on the price m...

We conduct laboratory experiments to study whether increasing the number of independent public signals in an economy with endogenous private information is effective measure promote acquisition and enhance price efficiency. observe that release crowds out traders' demand for under a single disclosure while favoring multiple disclosures. The latter improves accuracy forecasting asset fundamental...

Stock market is affected by news and information. If the stock market is not efficient, the reaction of stock price to news and information will place the stock market in overreaction and under-reaction states. Many models have been already presented by using different tools and techniques to forecast the stock market behavior. In this study, the reaction of stock price in the stock market was ...