Artificial Markets Modeling: Methods and Applications (Lecture Notes in Economics and Mathematical Systems) [1 ed.] 3540731342, 9783540731344
Agent-based computational modeling with its intrinsic multidisciplinary approach is gaining increasing recognition in th
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English Pages 277 [292] Year 2007
Table of contents :
Artificial Markets Modeling......Page 3
Front Cover......Page 1
Preface......Page 5
Contents......Page 8
List of Contributors......Page 11
Part I Macroeconomic Issues......Page 14
1 Beyond the Static Money Multiplier: In Search of a Dynamic Theory of Money......Page 16
2 Macroeconomic Effects of the Interest Rate Level: Growth and Fluctuations in an Economy with Bank Capital Adequacy Standards......Page 30
3 Monetary Policy Experiments in an Artificial Multi-Market Economy with Reservation Wages......Page 46
Part II Market Mechanisms and Agents Behavior......Page 58
4 Testing Double Auction as a Component Within a Generic Market Model Architecture......Page 60
5 A Conceptual Framework for the Evaluation of Agent-Based Trading and Technical Analysis......Page 76
6 Which Market Protocols Facilitate Fair Trading?......Page 94
Part III Market Dynamics and Efficiency......Page 112
7 An Artificial Economics View of the Walrasian and Marshallian Stability......Page 114
8 The Performance of Option–Trading Software Agents: Initial Results......Page 126
9 Studies on the Impact of the Option Market on the Underlying Stock Market......Page 140
10 On Rational Noise Trading and Market Impact......Page 154
Part IV Analysis of Economic and Social Networks......Page 168
11 A Note on Symmetry in Job Contact Networks......Page 170
12 Innovation and Knowledge Spillovers in a Networked Industry......Page 184
13 Heterogeneous Agents with Local Social Influence Networks: Path Dependence and Plurality of Equilibria in the ACE Noiseless Case......Page 194
14 Economy-Driven Shaping of Social Networks and Emerging Class Behaviors......Page 208
15 Group Effect, Productivity and Segregation Optimality......Page 222
16 The Grass is Always Greener on the Other Side of the Fence: The Effect of Misperceived Signalling in a Network Formation Process......Page 236
Part V Methodological Issues and Applications......Page 248
17 Market Selection of Competent Venture Capitalists......Page 250
18 A Binary Particle Swarm Optimization Algorithm for a Double Auction Market......Page 262
19 Better-Reply Strategies with Bounded Recall......Page 272
List of Lecture Notes in Economics and Mathematical Systems from Vol 513 - 602......Page 291
Artificial Markets Modeling......Page 3
Front Cover......Page 1
Preface......Page 5
Contents......Page 8
List of Contributors......Page 11
Part I Macroeconomic Issues......Page 14
1 Beyond the Static Money Multiplier: In Search of a Dynamic Theory of Money......Page 16
2 Macroeconomic Effects of the Interest Rate Level: Growth and Fluctuations in an Economy with Bank Capital Adequacy Standards......Page 30
3 Monetary Policy Experiments in an Artificial Multi-Market Economy with Reservation Wages......Page 46
Part II Market Mechanisms and Agents Behavior......Page 58
4 Testing Double Auction as a Component Within a Generic Market Model Architecture......Page 60
5 A Conceptual Framework for the Evaluation of Agent-Based Trading and Technical Analysis......Page 76
6 Which Market Protocols Facilitate Fair Trading?......Page 94
Part III Market Dynamics and Efficiency......Page 112
7 An Artificial Economics View of the Walrasian and Marshallian Stability......Page 114
8 The Performance of Option–Trading Software Agents: Initial Results......Page 126
9 Studies on the Impact of the Option Market on the Underlying Stock Market......Page 140
10 On Rational Noise Trading and Market Impact......Page 154
Part IV Analysis of Economic and Social Networks......Page 168
11 A Note on Symmetry in Job Contact Networks......Page 170
12 Innovation and Knowledge Spillovers in a Networked Industry......Page 184
13 Heterogeneous Agents with Local Social Influence Networks: Path Dependence and Plurality of Equilibria in the ACE Noiseless Case......Page 194
14 Economy-Driven Shaping of Social Networks and Emerging Class Behaviors......Page 208
15 Group Effect, Productivity and Segregation Optimality......Page 222
16 The Grass is Always Greener on the Other Side of the Fence: The Effect of Misperceived Signalling in a Network Formation Process......Page 236
Part V Methodological Issues and Applications......Page 248
17 Market Selection of Competent Venture Capitalists......Page 250
18 A Binary Particle Swarm Optimization Algorithm for a Double Auction Market......Page 262
19 Better-Reply Strategies with Bounded Recall......Page 272
List of Lecture Notes in Economics and Mathematical Systems from Vol 513 - 602......Page 291
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