Testbed for artificial markets

@article{Ishinishi1999TestbedFA,
  title={Testbed for artificial markets},
  author={Masayuki Ishinishi and Akira Namatame},
  journal={IEEE SMC'99 Conference Proceedings. 1999 IEEE International Conference on Systems, Man, and Cybernetics (Cat. No.99CH37028)},
  year={1999},
  volume={2},
  pages={610-615 vol.2}
}
We discuss the testbed that we build for analysing Internet economics. The testbed for artificial markets is the experimental platform which is composed of simulation programs using economic agents. Economic agents are defined as autonomous entities equipped with their own utility functions. Their utility functions are governed by the market mechanism. We describe the competitive interaction model of economic agents. In contrast to fully computerized simulations, gaming simulations have humans… CONTINUE READING

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