Artiicial Economic Life: a Simple Model of a Stockmarket
نویسندگان
چکیده
We describe a model of a stockmarket in which independent adaptive agents can buy and sell stock on a central market The overall market behavior such as the stock price time series is an emergent property of the agents behavior This approach to modelling a market is contrasted with conventional rational expectations approaches Our model does not necessarily converge to an equilibrium and can show bubbles crashes and continued
منابع مشابه
The Institution of a Stockmarket in a Socialist Economy: Notes on the Chinese Economic Reform Program
This paper is concerned with three questions: (a) how would a stockmarket help economic and industrial development in a country like China; (b) will a stockmarket be system-compatible; and (c) if a full-fledged stockmarket is indeed introduced in a socialist economy, can its “negative influences” (speculation, booms and crashes) be minimized? These issues are examined analytically with the help...
متن کاملHow do rms transition between monopoly and competitive behavior? An Agent-based Economic Model
Artiicial life has long held out the promise of revolutionizing how scientists approach a variety of problems. In this paper we describe an application of ar-tiicial life techniques to the study of a fundamental problem in economics: How does a rm transition from monopoly behavior to competitive behavior as other rms enter the market? Solving traditional economic models provides the equilibrium...
متن کاملThree Illustrations of Artiicial Life's Working Hypothesis
Artiicial life uses computer models to study the essential nature of the characteristic processes of complex adaptive systems| proceses such as self-organization, adaptation, and evolution. Work in the eld is guided by the working hypothesis that simple computer models can capture the essential nature of these processes. This hypothesis is illustrated by recent results with a simple population ...
متن کاملAbundance-distributions in Artiicial Life and Stochastic Models: \age and Area" Revisited
Using an artiicial system of self-replicating strings, we show a correlation between the age of a genotype and its abundance that reeects a punctuated rather than gradual picture of evolution, as suggested long ago by Willis. In support of this correlation, we measure genotype abundance distributions and nd universal coee-cients. Finally, we propose a simple stochastic model which describes the...
متن کاملGenotype Reproduction Phenotype Behavior Development
This paper proposes a new concept to use Artiicial Life approach to construct intelligence as adaptive behavior based on the neuron-like computational elements. In the paper we outline a computational model for the simulation of adaptive behavior. Examples are given to demonstrate the computational model for creating simple behaviors.
متن کامل