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Complexity and Artificial Markets [electronic resource] / edited by Klaus Schredelseker, Florian Hauser.

Contributor(s): Series: Lecture Notes in Economics and Mathematical Systems ; 614Publisher: Berlin, Heidelberg : Springer Berlin Heidelberg, 2008Description: XX, 234 p. 73 illus. online resourceContent type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9783540705567
Subject(s): Genre/Form: Additional physical formats: Printed edition:: No titleDDC classification:
  • 330.015195 23
LOC classification:
  • HB139-141
Online resources:
Contents:
Market Mechanisms -- Zero-Intelligence Trading Without Resampling -- Understanding the Price Dynamics of a Real Market Using Simulations: The Dutch Auction of the Pescara Wholesale Fish Market -- Market Behavior Under Zero-Intelligence Trading and Price Awareness -- Evolution and Decision Making -- Evolutionary Switching between Forecasting Heuristics: An Explanation of an Asset-Pricing Experiment -- Prospect Theory Behavioral Assumptions in an Artificial Financial Economy -- Computing the Evolution of Walrasian Behaviour -- Multidimensional Evolving Opinion for Sustainable Consumption Decision -- Information Economics -- Local Interaction, Incomplete Information and Properties of Asset Prices -- Long-Term Orientation in Trade -- Agent-Based Experimental Economics in Signaling Games -- Methodological Issues -- Why do we need Ontology for Agent-Based Models? -- Production and Finance in EURACE -- Serious Games for Economists -- Invited Speakers -- Computational Evolution -- Artificial Markets: Rationality and Organisation.
In: Springer eBooksSummary: In recent years, agent-based simulation has become a widely accepted tool when dealing with complexity in economics and other social sciences. The contributions presented in this book apply agent-based methods to derive results from complex models related to market mechanisms, evolution, decision making, and information economics. In addition, the applicability of agent-based methods to complex problems in economics is discussed from a methodological perspective. The papers presented in this collection combine approaches from economics, finance, computer science, natural sciences, philosophy, and cognitive sciences.
Item type: eBooks
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Market Mechanisms -- Zero-Intelligence Trading Without Resampling -- Understanding the Price Dynamics of a Real Market Using Simulations: The Dutch Auction of the Pescara Wholesale Fish Market -- Market Behavior Under Zero-Intelligence Trading and Price Awareness -- Evolution and Decision Making -- Evolutionary Switching between Forecasting Heuristics: An Explanation of an Asset-Pricing Experiment -- Prospect Theory Behavioral Assumptions in an Artificial Financial Economy -- Computing the Evolution of Walrasian Behaviour -- Multidimensional Evolving Opinion for Sustainable Consumption Decision -- Information Economics -- Local Interaction, Incomplete Information and Properties of Asset Prices -- Long-Term Orientation in Trade -- Agent-Based Experimental Economics in Signaling Games -- Methodological Issues -- Why do we need Ontology for Agent-Based Models? -- Production and Finance in EURACE -- Serious Games for Economists -- Invited Speakers -- Computational Evolution -- Artificial Markets: Rationality and Organisation.

In recent years, agent-based simulation has become a widely accepted tool when dealing with complexity in economics and other social sciences. The contributions presented in this book apply agent-based methods to derive results from complex models related to market mechanisms, evolution, decision making, and information economics. In addition, the applicability of agent-based methods to complex problems in economics is discussed from a methodological perspective. The papers presented in this collection combine approaches from economics, finance, computer science, natural sciences, philosophy, and cognitive sciences.

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