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A Markov Model of Production, Trade, and Money: Theory and Artificial Life Simulation

โœ Scribed by Herbert Gintis


Book ID
110277161
Publisher
Springer US
Year
1997
Tongue
English
Weight
176 KB
Volume
3
Category
Article
ISSN
1381-298X

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We present a double-auction artificial financial market populated by heterogeneous agents who trade one risky asset in exchange for cash. Agents issue random orders subject to budget constraints. The limit prices of orders may depend on past market volatility. Limit orders are stored in the book whe