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Figure 5 | EPJ Data Science

Figure 5

From: Complex decision-making strategies in a stock market experiment explained as the combination of few simple strategies

Figure 5

Patterns of behavior for each group of users. For each group of users we show the score \(M_{kb}\) (see text) for each pattern of behavior b (from left to right): (EXP) Following the expert’s advice; (WSLS) – Win-stay loose-shift; (WS) Win stay; (LS) Loose shift, (RPT) Repeat previous guess; (RPTU) Repeat previous decision if it was ↑; RPTD Repeat previous decision if it was ↓. A score of 1 means the group completely follows a basic pattern, and a score of −1 means it does the exact opposite of the basic pattern. Every group displays a preferential (if not systematic) pattern of behavior: K4 behaves according to the WS-LS strategy, K3 repeats the previous guess, K2 always guesses ↑ and K1 changes the previous guess. Additionally, the expert’s advice is either followed or ignored, but none of the groups systematically makes the opposite decision. Note that because the expert is consulted in less than 30% of the rounds, we split the data set into expert consulted and not consulted. From the former we get the score for the EXP strategy, while from the latter we obtain the scores for the other behavioral patterns

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