The Schema Analysis of Emergent Bargaining Strategies in Agent-Based Double Auction Markets
نویسندگان
چکیده
In this paper, we simulate the double auction markets with AIE-DA Ver. 2. Given that all traders are truth tellers and non-adaptive, we find that the GP trader can always find the most profitable trading strategies. Furthermore, the analysis shows that the trading strategies discovered by GP are very market-specific, which makes our artificial bargaining agent behave quite intelligently.
منابع مشابه
Agents learned, but do we? Knowledge discovery using the agent-based double auction markets
This paper demonstrates the potential role of autonomous agents in economic theory. We first dispatch autonomous agents, built by genetic programming, to double auction markets. We then study the bargaining strategies, discovered by them, and from there, an autonomous-agent-inspired economic theory with regard to the optimal procrastination is derived.
متن کاملToward an Agent-Based Computational Modeling of Bargaining Strategies in Double Auction Markets with Genetic Programming
Using genetic programming, this paper proposes an agentbased computational modeling of double auction (DA) markets in the sense that a DA market is modeled as an evolving market of autonomous interacting traders (automated software agents). The specific DA market on which our modeling is based is the Santa Fe DA market ([10], [11]), which in structure, is a discrete-time version of the Arizona ...
متن کاملEvolution of Bargaining Strategies for Double Auction Markets Using Genetic Programming
In market-based control systems ideas from microeconomic theory are used to solve resource allocation problems, e.g., routing in telecom networks. Resource allocation is achieved in a decentralised fashion where selfish software agents buy and sell the resources and hence no central planning is necessary. The performance of market-based systems generally depends on the bargaining strategies tha...
متن کاملA Comparison of Effective Trading Agents in Double Auction Markets
In this paper, we conducted agent-based simulations in double auction markets with strategies gathered from the literature. The goal is to compare various styles of strategies based on their effectiveness. In shows that adopting heuristics, adaptive strategies, or even more innovative algorithms such as Genetic Programming, can yield different advantages in a profit-variation exchange setup. Th...
متن کاملMinimal Intelligence Agents in Double Auction Markets with Speculators
This chapter explores the minimal intelligence conditions for traders in a general double auction market with speculation activities. Using an agent-based model, it is shown that when traders and speculators play together under general market curve settings, zero-intelligent plus (ZIP) is still a sufficient condition for market prices to converge to the equilibrium. At the same time, market eff...
متن کامل