Download e-book for iPad: Artificial Economics: Agent-Based Methods in Finance, Game by Philippe Mathieu, Bruno Beaufils, Olivier Brandouy

By Philippe Mathieu, Bruno Beaufils, Olivier Brandouy

ISBN-10: 3540285784

ISBN-13: 9783540285786

Agent-based Computational Economics (ACE) is a brand new self-discipline of economics, mostly grounded on options like evolution, auto-organisation and emergence: it intensively makes use of machine simulations in addition to synthetic intelligence, typically in keeping with multi-agents structures. the aim of this ebook is to offer an up-to date view of the medical construction within the fields of Agent-based Computational Economics (mainly in marketplace Finance and online game Theory). in response to communications given at AE'2005 (Lille, USTL, France), this booklet deals a large landscape of contemporary advances in ACE (both theoretical and methodological) that would curiosity teachers in addition to practitioners.

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

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This result is in agreement with the eighteenth century classical philosophers, Adam Smith and David Hume, and later on with the Austrians, that claimed that spontaneous order may be an outcome of the individual interactions. Ecological learning and social learning beat individual intelligent learning. 2 intelligent Agents in the CDA Market Although the Zero Intelligence agents may achieve high market efficiency, ZI agents perform poorly when they are competing with agents with learning capacity (Tesauro and Das [12]).

Howison. Application of multiagent games to the prediction offinancialtime-series. , 2001. 9. J. M. Keynes. The General Theory of Interest, Employment and Money. MacMillan, London, 1936. 10. B. LeBaron. Experiments in evolutionnary finance. Working Paper, University of Wisconsin - Madison, August 1995. 11. B. LeBaron. Evolution and time horizons in an agent based stock market. Macroeconomic Dynamics, 5(2):225-254, 2001. 12. B. LeBaron. Building the santa fe artificial stock market. Working Paper, Brandeis University, June 2002.

G. with the smallest strength) are deleted. They are replaced by new rules generated using a classical genetic process: the best rules are selected to be the parents' of the new rules. A new rule can be generated either by mutation (only a bit of the parent's chromosome is changed) or by a crossover process (reproduction between two parents rules). This mechanism permits, on the one hand, to delete the rules that don't make our agent earn money and to build up new rules using good genetical material.

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Artificial Economics: Agent-Based Methods in Finance, Game Theory and Their Applications by Philippe Mathieu, Bruno Beaufils, Olivier Brandouy

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