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Published in:
Agent-Based Computational Economics and Industrial Organization Theory Read chapter Read first chapter

2019 | OriginalPaper | Chapter

8. CDS Manager: An Educational Tool for Credit Derivative Market

Authors : Federico Cecconi, Alessandro Barazzetti

Published in: Information and Communication Technologies (ICT) in Economic Modeling

Publisher: Springer International Publishing

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Abstract

How could we teach the dynamics of new financial instruments, not very much understood and potentially dangerous? In this work we show some limitations of classical financial learning framework, which uses a description of the dynamics through mathematical models, and we propose an alternative approach, based on the agent-based modeling framework. In the model presented, an operator observes, through a simulation, the behavior of other artificial agents in its own market (Liu et al., J Manag Inf Syst 7(1):101–122, 1990; Radicchi et al., Proc Natl Acad Sci USA 101(9):2658–2663, 2004; Yang et al., Int J Electron Commer 6(1):101–102, 2001).

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previous chapter Fintech: The Recovery Activity for Non-performing Loans
next chapter A Decision-Making Model for Critical Infrastructures in Conditions of Deep Uncertainty
Literature
Cecconi, F. (2007). Financial markets and norms. ISTC CNR, conf.
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Cecconi, F., & Parisi, D. (2007). Asymmetric pricing: An agent based model. In Proceedings of the IASTED International Conference on Modelling and Simulation (MS 2007), February 13–16, Montreal, CANADA, pp. 380–385.
Cecconi, F., Caligiore, D., Baldassarre, G., & Parisi, D. (2007). Interacting networks as model of cultural change. In Proceedings of Computational Methods for Modeling and learning in Social and Human Sciences (MASHS 07), May 10–11, Brest, France, pp. 190–199.
Cecconi, F., Campenní, M., Andrighetto, G., & Conte, R. (i. p. 2010). What do agent-based and equation-based modelling tell us about social conventions: the clash between ABM and EBM in a Congestion Game Framework, JASSS 1, on-line.
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Parisi, D., Cecconi, F., & Natale, F. (2003). Cultural change in spatial environments: The role of cultural assimilation and internal changes in cultures. The Journal of Conflict Resolution, 47(2), 163–179.CrossRef
Radicchi, F., Castellano, C., Cecconi, F., Loreto, V., Parisi, D., & Parisi, G. (2004). Defining and identifying communities in networks. Proceedings of the National Academy of Sciences of the United States of America, 101(9), 2658–2663.CrossRef
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Metadata
Title
CDS Manager: An Educational Tool for Credit Derivative Market
Authors
Federico Cecconi
Alessandro Barazzetti
Copyright Year
2019
Book
Information and Communication Technologies (ICT) in Economic Modeling

Print ISBN: 978-3-030-22604-6

Electronic ISBN: 978-3-030-22605-3

Copyright Year: 2019

DOI
https://doi.org/10.1007/978-3-030-22605-3_8