Open Object–based systems are becoming increasingly used as the basis for design of distributed systems. These systems are inherently complex due to concurrency and synchronisation of activities operating in parallel. In order to engineer these Open Distributed Systems, tools are required to aid in the design and analysis processes. In this paper, Coloured Petri Nets and the Design/CPN tool are...

We implement a multi-agent financial market model simulation in which agents follow technical and fundamental trading rules to determine their speculative investment positions. We consider direct interactions between speculators due to which they may decide to change their trading behaviour. For instance, if a technical trader meets a fundamental trader and they realize that fundamental trading...

We consider a dynamic asset pricing model with one asset, in which one informed trader trades against liquidity traders and competitive market makers. Informed trader has private information about the fundamental value of the asset as well as the exogenous demand shock on the market. We characterize the unique linear Markov equilibrium of the model. With just the private information about funda...

a r t i c l e i n f o JEL classification: C15 G14 D53 D82 Keywords: Information costs Noise trader Fundamental analysis Agent-based modeling This study explores the long-standing question about the survival of noise traders in financial markets through the relatively new method of agent-based modeling. We find that, in the normal case, there are two attractors for the ratio of experts versus no...

In this paper, we present a new approach to design and implement a trader which has the objective of searching for information in a exible way in a distributed system. In this context, we propose an approach that is based on ontologies and knowledge representation to index and store the properties of a service. It uses a logic language for querying, adding and withdrawing a service o er. This d...

In this paper, we introduce a unique implementation scheme of the Belief-Desire-Intention (BDI) model to be used in an agentbased application using Java. The example prototype system is the Agent-based Stock Trader (AST) that is a stock-trading expert based on intelligent agents. Agents in AST are based on the Belief-Desire-Intention (BDI) model in artificial intelligence. This paper proposes h...

Trading is widely recognized as a stressful profession. Taking decisions under stress negatively affects both, the finances and the health of the trader. Providing support to increase the awareness of traders on their real levels of stress could significantly improve their performance and well-being. This paper surveys technology available that can be considered to provide such level of support...