Artificial Economics: Agent-Based Methods in Finance, Game Theory and Their Applications

✍ Scribed by Thomas Stümpert, Detlef Seese, Malte Sunderkötter (auth.), M. Beckmann, H. P. Künzi, Prof. Dr. G. Fandel, Prof. Dr. W. Trockel, A. Basile, A. Drexl, H. Dawid, K. Inderfurth, W. Kürsten, U. Schittko, Prof. Philippe Mathieu, Dr. Bruno Beaufils, Prof. Olivier Brandouy (eds.)

• Publisher: Springer-Verlag Berlin Heidelberg
• Year: 2006
• Tongue: English
• Leaves: 238
• Series: Lecture Notes in Economics and Mathematical Systems 564
• Edition: 1
• Category: Library

✦ Synopsis

Agent-based Computational Economics (ACE) is a new discipline of economics, largely grounded on concepts like evolution, auto-organisation and emergence: it intensively uses computer simulations as well as artificial intelligence, mostly based on multi-agents systems. The purpose of this book is to give an up-to date view of the scientific production in the fields of Agent-based Computational Economics (mainly in Market Finance and Game Theory). Based on communications given at AE'2005 (Lille, USTL, France), this book offers a wide panorama of recent advances in ACE (both theoretical and methodological) that will interest academics as well as practitioners.

✦ Table of Contents

Time Series Properties from an Artificial Stock Market with a Walrasian Auctioneer....Pages 3-14
Market Dynamics and Agents Behaviors: a Computational Approach....Pages 15-26
Traders Imprint Themselves by Adaptively Updating their Own Avatar....Pages 27-38
Learning in Continuous Double Auction Market....Pages 41-51
Firms Adaptation in Dynamic Economic Systems....Pages 53-64
Firm Size Dynamics in a Cournot Computational Model....Pages 65-77
Emergence of a Self-Organized Dynamic Fishery Sector: Application to Simulation of the Small-Scale Fresh Fish Supply Chain in Senegal.....Pages 79-89
Multi-Agent Model of Trust in a Human Game....Pages 91-102
A Counterexample for the Bullwhip Effect in a Supply Chain....Pages 103-111
Collective Efficiency in Two-Sided Matching....Pages 115-126
Complex Dynamics, Financial Fragility and Stylized Facts....Pages 127-135
Noisy Trading in the Large Market Limit....Pages 137-145
Emergence in Multi-Agent Systems: Cognitive Hierarchy, Detection, and Complexity Reduction part I: Methodological Issues....Pages 147-159
The Implications of Case-Based Reasoning in Strategic Contexts....Pages 163-174
A Model of Myerson-Nash Equilibria in Networks....Pages 175-188
Stock Price Dynamics in Artificial Multi-Agent Stock Markets....Pages 191-201
Market Failure Caused by Quality Uncertainty....Pages 203-213
Learning and the Price Dynamics of a Double-Auction Financial Market with Portfolio Traders....Pages 215-226
How Do the Differences Among Order Distributions Affect the Rate of Investment Returns and the Contract Rate....Pages 227-237

✦ Subjects

Game Theory/Mathematical Methods; Computing Methodologies; Computer Appl. in Social and Behavioral Sciences; Financial Economics