2002 | OriginalPaper | Buchkapitel
Cognitive Agents Behaving in a Simple Stock Market Structure
verfasst von : Pietro Terna
Erschienen in: Agent-Based Methods in Economics and Finance
Verlag: Springer US
Enthalten in: Professional Book Archive
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We introduce here the SUM model-the Surprising (Un)realistic Market model-an agent based framework that allows us to deal with the micro-foundations of a stock market. We avoid any artificially simplified solution about price formation, such as to employ an auctioneer to clear the market; on the contrary, our model produces time series of prices continuously evolving, transaction by transaction.