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Heterogeneous, Boundedly Rational Agents in the Cournot Duopoly Read chapter Read first chapter

2003 | OriginalPaper | Chapter

The Genoa Artificial Stock Market: Microstructure and Simulations

Authors : M. Marchesi, S. Cincotti, S. M. Focardi, M. Raberto

Published in: Heterogenous Agents, Interactions and Economic Performance

Publisher: Springer Berlin Heidelberg

Included in: Professional Book Archive

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This paper presents an artificial financial market based on heterogeneous agents which are endowed with a limited amount of cash and one traded asset. Agents make random buy and sell decisions which are constrained by their limited resources and depend on the past price volatility. The price formation process is given by the intersection of the supply and demand curves.

previous chapter Mean Field Effects and Interaction Cycles in Financial Markets
next chapter A Simple Quantity Adjustment Model of Economic Fluctuations and Growth
Metadata
Title
The Genoa Artificial Stock Market: Microstructure and Simulations
Authors
M. Marchesi
S. Cincotti
S. M. Focardi
M. Raberto
Copyright Year
2003
Publisher
Springer Berlin Heidelberg
Book
Heterogenous Agents, Interactions and Economic Performance

Print ISBN: 978-3-540-44057-4

Electronic ISBN: 978-3-642-55651-7

Copyright Year: 2003

DOI
https://doi.org/10.1007/978-3-642-55651-7_17