منابع مشابه
Trader Dynamics in a Model Market
We explore various extensions of Challet and Zhang’s Minority Game in an attempt to gain insight into the dynamics underlying financial markets. First we consider a heterogeneous population where individual traders employ differing ‘time horizons’ when making predictions based on historical data. The resulting average winnings per trader is a highly non-linear function of the population’s compo...
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We examine an asset pricing model of Westerhoff 2005 . The model incorporates heterogeneous beliefs among traders, specifically fundamentalists and trend-chasing chartists. The form of the model is shown here to be a nonlinear planar map. Since it contains a single parameter, the model may be considered the simplest effective model yet derived for financial asset pricing with heterogeneous trad...
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The success of the Internet has made some dramatic changes in the way scientists and students are supplied with scientific literature. They can now operate in an information market, where the value of a piece of information is determined by the law of supply and demand. Traders assist the customer in this market. This paper describes a basic approach to trading in the open, distributed, and het...
متن کاملA Trader for Services in the Information Market
The success of the internet has made some dramatic changes in the way scientists and students are supplied with scientific literature. It has started to change into an information market, where the value of a piece of information is determined by the law of supply and demand. The customer in this market is unable to find providers delivering the desired piece of information under the his/her co...
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Use of trading strategies to mislead other market participants, commonly termed market manipulation, has been identified as a major problem faced by present day stock markets. Although some mathematical models of market manipulation have been previously developed, this work presents a framework for manipulation in the context of a realistic computational model of a limit-order market. In this w...
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ژورنال
عنوان ژورنال: International Journal of Theoretical and Applied Finance
سال: 2000
ISSN: 0219-0249,1793-6322
DOI: 10.1142/s0219024900000358