Evolution and anti-evolution in a minimal stock market model

Abstract

We present a novel microscopic stock market model consisting of a large number of random agents modeling traders in a market. Each agent is characterized by a set of parameters that serve to make iterated predictions of two successive returns. The future price is determined according to the offer and the demand of all agents. The system evolves by… (More)
DOI: 10.1016/S0378-4371(03)00396-0

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