Abstract
Traditional cheap-talk game model with homogeneous information sources provided a conclusion that dishonest information sources will not be identified if he changes strategy stochastically. In this paper, the authors incorporate different information diffusion networks and heterogeneous information sources into an agent-based artificial stock market. The obtained results are different with traditional results that identification ability of uninformed agents has been highly improved with diffusion networks and heterogeneous information sources. Additionally, the authors find uninformed agents can improve identification ability only if there exists a sufficient number of heterogeneous information sources in stock market.
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