Agent-Based Modeling of Cognitive Double Auction Market Experiments

نویسندگان

  • Shu-Heng Chen
  • Chung-Ching Tai
چکیده

In this paper, we study the significance of the cognitive capacity in the context of double auction experiments. These experiments are then simulated using artificial agents in an agent-based modeling environment, and the results are compared with the results from human subjects.

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Trading Restrictions, Price Dynamics and allocative Efficiency in Double Auction Markets: Analysis Based on Agent-Based Modeling and Simulations

In this paper we conduct two experiments within an agent-based double auction market. These two experiments allow us to see the effect of learning and smartness on price dynamics and allocative efficiency. Our results are largely consistent with the stylized facts observed in experimental economics with human subjects. From the amelioration of price deviation and allocative efficiency, the effe...

متن کامل

Toward 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 کامل

Minimal 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

Artificial Economic Agents with Heterogeneous Cognitive Capacity and Their Economic Consequences: Study Based on Agent-Based Double Auction Market Simulations

Despite the increasing tendency to make intelligence an explicit control variable in experimental economics and to explore its emergent outcomes, agent-based computational economics, which is normally claimed as the software counterpart of experimental economics, has paid almost no attention to this development. On the contrary, from a pure engineering viewpoint, there is a tendency to make sof...

متن کامل

B2B electronic market analysis using game theory

In the explosive growth of Business to Business (B2B) Electronic Trades, electronic markets have received a great deal of attention recently. The obtained profit of trading in E-B2B market encourage market participants to remain in the market. Market participants consist of: sellers, buyers, and market owner. In this paper the expected profit function for each market participant has been define...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

عنوان ژورنال:

دوره   شماره 

صفحات  -

تاریخ انتشار 2009