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Journal of Economic Interaction and Coordination

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09-06-2017 | Book Review

Realistic simulation of financial markets: analyzing market behaviors by the third mode of science

Editors: Kita, Hajime, Taniguchi, Kazuhisa, Nakajima, Yoshihiro, Springer 2016

Author: Damien Challet

Published in: Journal of Economic Interaction and Coordination | Issue 1/2018

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This book is a self-contained account of the origins, principles, hopes, and applications of an artificial financial market framework called U-mart, developed and used over 15 years by interdisciplinary groups, mostly in Japan. From the start, this work places itself in the broader “third mode of science”, i.e., agent-based simulations (ABS) or agent-based computation economics (ABCE). Financial markets are regarded as an ideal exploration ground of economical systems, if only because they remove the need to consider spatial interactions and spatial trajectories of agents. …

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Title: Realistic simulation of financial markets: analyzing market behaviors by the third mode of science
Editors: Kita, Hajime, Taniguchi, Kazuhisa, Nakajima, Yoshihiro, Springer 2016
Author: Damien Challet
Publication date: 09-06-2017
Publisher: Springer Berlin Heidelberg
Published in: Journal of Economic Interaction and Coordination / Issue 1/2018
Print ISSN: 1860-711X
Electronic ISSN: 1860-7128
DOI: https://doi.org/10.1007/s11403-017-0197-0

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