Artificial economic life: a simple model of a stockmarket
Proceedings of the NATO advanced research workshop and EGS topical workshop on Chaotic advection, tracer dynamics and turbulent dispersion
A computational market model based on individual action
Market-based control
Agent-based simulation and greenhouse gas emissions trading
Proceedings of the 33nd conference on Winter simulation
Agent-Based Simulation for Economic and Environmental Studies
Proceedings of the Joint JSAI 2001 Workshop on New Frontiers in Artificial Intelligence
Rate of Return Parity with Robot Asset Traders
Computational Economics
A supply chain as a network of auctions
Decision Support Systems
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We simulate a multiagent market with production, consumption, and exchange mediated by a sealed-bid double auction. Marked price bubbles and subsequent crashes occur when value-based (fundamentals-driven) and trend-based traders are both present, and the market equilibrium price is ramped up exogenously. Similarly, negative price bubbles and recoveries occur when the equilibrium price is ramped down. Because the simulated market is auction-mediated, we can observe the operations of traders during these events, and study the interactions that produce and resolve bubbles. Some preliminary circuit-breaker experiments are described,in which bubbles are interrupted during their formation.