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Table 1 Summary of the parameters of the simulation

From: Heterogeneous expectations leading to bubbles and crashes in asset markets: tipping point, herding behavior and group effect in an agent-based model

Description Symbol Value
Number of agent N 2500
Initial amount of asset ai0 1
The maximum amount of cash agent can hold \( \overline{\mathrm{C}} \) 2
weight for fundamental value between two types of information αi αi [0, 1]
Variance for random walk σ2 10−3
Impact of the excess demand on the price λ 0.25
The fraction of trading g 0.1
Weight on price change rate γ 1
Initial fundamental value \( {\mathrm{p}}_0^{\mathrm{f}} \) 0.53
Initial asset price p0 0.5
Upper bound for threshold \( \overline{\Omega} \) 2
Lower bound for threshold \( \underline{\Omega} \) 1