• Proceedings of the Korean Institute of Intelligent Systems Conference
• /
• 1998.06a
• /
• pp.170-175
• /
• 1998

Transporting a large table using multiple robotic agents requires at least two group behaviors of homing and herding which are to bo coordinated in a proper sequence. Existing GP methods for multi-agent learning are not practical enough to find an optimal solution in this domain. To evolve this kind of complex cooperative behavior we use a novel method called fitness switching. This method maintains a pool of basis fitness functions each of which corresponds to a primitive group behavior. The basis functions are then progressively combined into more complex fitness functions to co-evolve more complex behavior. The performance of the presented method is compared with that of two conventional methods. Experimental results show that coevolutionary fitness switching provides an effective mechanism for evolving complex emergent behavior which may not be solved by simple genetic programming.

• International Area Studies Review
• /
• v.22 no.1
• /
• pp.123-140
• /
• 2018

This paper analyzes herd behavior observed in the loan market from 2001 to 2014 using a panel data on commercial banks including state-owned banks, domestic private banks, foreign banks, and Islamic banks. The paper finds evidence that herd behaviors of domestic private and foreign banks have been pronounced and long-lasting around the 2008 global financial crisis when state-owned banks did not show such a behavior. This result shows that since private banks tend to be keen on maximizing profits and avoid financial risks exposed by lending during a financial crisis, their lending decisions are not independent but dependent on whether other banks increase loans or not. On the other hand, Islamic banks do not show herd behavior during the financial crisis. This finding is consistent with earlier studies that Islamic banks have different characteristics, such as profit and operation mechanisms, from other private banks. Another interesting finding is that when it comes to rural loans, all the banks' herd behavior is short-lived and the herding indexes are quite volatile. This finding is attributable to distinct features of rural loans. Usually maturities of rural loans are shorter than city loans and related to the cycle of farming. Agricultural production is heavily dependent on unpredicted factors, such as floods and droughts, not previous year's production. Lastly, the paper finds a herding across bank type that state-owned, foreign, and Islamic banks follow domestic private banks'lending decisions.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.12
• /
• pp.635-645
• /
• 2020

This research was conducted to achieve several objectives and focus research was based on financial behavior theory and prospect theory as grounded theory e.g., investigate the financial decision-making behavior between financial and real assets investment, and confirm the relationship existing between herding behavior and overconfidence factors to the level of loss and regret aversion, and financial literacy into real assets investment decisions. The study used 220 real estate auction respondents as investor samples at the State Assets and Auction Service Office Makassar, South Sulawesi, Indonesia. Data was collected through the use of a questionnaire consisting of 23 questions to measure the variables. Moreover, the research data passed through several feasibility tests like the inner and outer modeling by Partial Least Square - Structural equation model (PLS-SEM) while the hypotheses formulated were also tested to determine the magnitude of the variable relationship. Through the use of the direct and intervening test, loss and regret aversion variables have a positive and significant effect while financial literacy variables have no significant effect. There is a slight difference in the decision-making process for real assets and financial assets investors. Investment decision making behavior in the financial assets sector requires less complicated decisions compared to the decisions related to real assets investments.

• Journal of the Korean Society of Fisheries and Ocean Technology
• /
• v.44 no.1
• /
• pp.10-19
• /
• 2008

This paper focuses on the mackerel's visual ability and swimming capability, and aims to describe the behavior in capture and escape process by trawl. The visual sensory systems and reaction behavior based locomotory capability were analyzed and simulated. The ability of fish to see an object depends on the light intensity and the contrast and size of the object. Swimming endurance of the fish is dependent on the swimming speed and the size of the fish. Swimming speeds of the fish are simulated 3 types of the burst speed, the prolonged speed and the sustained speed according to the time they can maintain to swim. The herding and avoiding is typical reaction of the fish to the stimuli of trawl gear in the capture process. These basic behavior patterns of the virtual mackerel to the gear are simulated. This simulation will be helpful to understand the fishing processes and make high selectivity of fishing.

• The Journal of the Korea Contents Association
• /
• v.19 no.5
• /
• pp.363-370
• /
• 2019

The purpose of this paper is to investigate motivational factors and consequence of the herd behavior of adolescent consumers under the buying decision process in the connected era of internet. For such purpose, this study built a research model and examined how sensitivity to fads, interaction and inaccuracy affect the disequilibrium consumption of adolescents. We also examined the relationship between disequilibrium consumption and consumption happiness. The survey method was used for this paper, and data from a total of 142 students were used for the analysis. And structural equation model was used to analyze the data. The results of this empirical study is summarized as followings. First, sensitivity to fads and interaction have direct effect on the disequilibrium consumption of adolescents. Second, disequilibrium consumption has a positive effect on adolescents' consumption happiness. This implies that the importance of herd behavior in designing rational choice in adolescents' consumption behaviors.

• Journal of Distribution Science
• /
• v.20 no.1
• /
• pp.77-85
• /
• 2022

Purpose: The Covid-19 pandemic has triggered several herd purchase behaviors, and online shopping has been considered a health-related preventative behavior. Thisstudy aimsto the relative impact of health threat beliefs concerning Covid-19 (perceived susceptibility and perceived severity) and herd mentality on consumers' online shopping post-adoption disconfirmation and continuance intention of online shopping. Research design, data and methodology: An internet survey was conducted with Vietnamese consumers, and upon screening, usable data of 292 responses were analyzed using PLS-SEM. Results showed that while herd mentality positively affects disconfirmation, health threat beliefs including perceived susceptibility and perceived severity of Covid-19 do not. Results: Results also provided further support for the notion that disconfirmation is a crucial determinant of post-adoption continuance intention. Moreover, herd mentality also has a significantly negative influence on online shopping post-adoption continuance intention. Conclusions: The research provides evidence supporting the role of herd mentality and post-adoption disconfirmation in driving consumers' intention to continue online shopping. However, the research shows that neither the perceived susceptibility of Covid-19 nor the perceived severity of Covid-19 has significant impact on post-adoption disconfirmation, adding mixed evidence to the application of health belief theory in technology (such as online shopping) adoption.

• Journal of the Korea Convergence Society
• /
• v.7 no.6
• /
• pp.205-212
• /
• 2016

This study attempts to empirically investigate if value strategy and momentum strategy could be improved by using past financial data such as ROE and PER in the Korean stock market. The study observes that both strategies which are refined by the portfolios consisting of companies with higher ROE/PER ratio show higher positive excessive returns than the traditional value strategy and momentum strategy. The study discusses that the excessive returns could be due to investors' behavioral biases such as conservatism, anchoring, confirmation, and herding by using convergent approach based on psychology theory. The results are not consistent with the efficient market hypothesis insisting investors' rational behavior.

• Informatization Policy
• /
• v.21 no.3
• /
• pp.102-127
• /
• 2014

Although mobile banking provides cost-saving opportunities as well as convenient banking experience for customers, today's banks still face challenges when deploying the technology because a good number of customers are reluctant to use mobile banking for personal reasons. This paper is an empirical investigation of the determinants of the intention to use smartphone-based mobile banking services. The determinants are grouped into two categories including personal factors and social influence factors. We conducted an empirical analysis using 751 survey responses collected from present users of mobile banking services. The results of the analysis reveal that all the personal factors have positive relationships with the intention to use mobile banking services. On the other hand, it was found that of the social influence factors, perceived herding behavior has significantly positive relationship with the intention to use smartphone-based services, whereas subjective norm is not significantly related to the intention. We provide practical as well as academic implications of the research findings.

• Computers and Concrete
• /
• v.32 no.2
• /
• pp.217-232
• /
• 2023

Numerous studies have been performed on the behavior of pile foundations in cold regions. This study first attempted to employ artificial neural networks (ANN) to predict pile-bearing capacity focusing on pile data recorded primarily on cold regions. As the ANN technique has disadvantages such as finding global minima or slower convergence rates, this study in the second phase deals with the development of an ANN-based predictive model improved with an Elephant herding optimizer (EHO), Dragonfly Algorithm (DA), Genetic Algorithm (GA), and Evolution Strategy (ES) methods for predicting the piles' bearing capacity. The network inputs included the pile geometrical features, pile area (m²), pile length (m), internal friction angle along the pile body and pile tip (Ø°), and effective vertical stress. The MLP model pile's output was the ultimate bearing capacity. A sensitivity analysis was performed to determine the optimum parameters to select the best predictive model. A trial-and-error technique was also used to find the optimum network architecture and the number of hidden nodes. According to the results, there is a good consistency between the pile-bearing DA-MLP-predicted capacities and the measured bearing capacities. Based on the R2 and determination coefficient as 0.90364 and 0.8643 for testing and training datasets, respectively, it is suggested that the DA-MLP model can be effectively implemented with higher reliability, efficiency, and practicability to predict the bearing capacity of piles.

• Economic Analysis
• /
• v.27 no.1
• /
• pp.67-90
• /
• 2021

This study found an interesting fact that the nonlinear relationship structure between volatility and trading volume changed before and after the COVID-19 pandemic according to empirical analysis using Bitcoin (BTC) market data that sensitively reflects investors' trading behavior. That is, their relationship appeared positive (+) in a stable market state before COVID-19 pandemic, as in theory based on the information flow paradigm. In a state under severe market stress due to COVID-19 pandemic, however, their dependence structure changed and even negative (-). This can be seen as a consequence of increased market stress caused by COVID-19 pandemics from a behavioral economics perspective, resulting in structural changes in the asset market and a significant impact on the nonlinear dependence of volatility and trading volume (in particular, their dependence at extreme quantiles). Hence, it should be recognized that in addition to information flows, psychological phenomena such as behavioral biases or herd behavior, which are closely related to market stress, can be a key in changing their dependence structure. For empirical analysis, this study performs a test of Ross (2015) for detecting a structural change, and proposes a Copula Regression Quantiles (CRQ) approach that can identify their nonlinear relationship structure and the asymmetric dependence in their distribution tails without the assumption of i.i.d. random variable. In addition, it was confirmed that when the relationship between their extreme values was analyzed by linear models, incorrect results could be derived due to model specification errors.