dominance. However, it is well-known that a contradiction occurs between such an attitude and the principle of an asymmetric … sensitivity to favorable and unfavorable events, expressed by a concave function, introduced in the Theory of Moral Sentiments …

By incorporating market impact and asymmetric sensitivity into the evolutionary minority game, we study the … investors tend to self-segregate into opposing groups and the introduction of asymmetric sensitivity leads to the disappearance …