A Simulated Stock Exchange Market : First Results
نویسندگان
چکیده
In this paper, we present a model that simulates the behaviour of a heterogenous collection of nancial traders on a market. Each trader is modelled as an autonomous, interactive agent and the agregation of their behavior results in market behaviour. We speci cally look at the role of information arriving at the market and the in uence of heterogeneity on market dynamics. The main conclusions are that the quality of the information determines how the market will behave and secondly, heterogeneity is required in order to nd the right statistical properties of the price and return time series.
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