Supporting Financial Decision Making by an Intelligent Agent Estimating Greed and Risk

Abstract

In the area of financial decision making it is more and more acknowledged that psychological states and characteristics play an important role, for example feeling insecure in relation to financial risks, and being greedy in relation to opportunities to obtain serious gains. This paper presents an agent model of human decision making behaviour in economic situations, incorporating a human’s greed state and personality characteristic concerning risk. The model provides a basis for the development of personalised intelligent agents that support a person in financial decisions. To evaluate the model a number of simulation experiments have been performed, which illustrate the model’s ability to show behaviour of different types of personalities.