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https://ah.lib.nccu.edu.tw/handle/140.119/23017
題名: | Individual Rationality as a Partial Impediment to Market Efficiency | 作者: | 陳樹衡;C.-C. Tai;B.-T. Chie Chen,Shu-Heng |
日期: | Mar-2002 | 上傳時間: | 9-Jan-2009 | 摘要: | In this chapter we conduct two experiments within an agent-based double auction market. These two experiments allow us to see the effect of learning and smartness on price dynamics and allocative efficiency. Our results are largely consistent with the stylized facts observed in experimental economics with human subjects. From the amelioration of price deviation and allocative efficiency, the effect of learning is vividly seen. However, smartness does not enhance market performance. In fact, the experiment with smarter agents (agents without a quote limit) results in a less stable price dynamics and lower allocative efficiency. | 關聯: | Genetic Algorithms and Genetic Programming in Computational Finance \r\n2002, pp 357-377 | 資料類型: | book/chapter |
Appears in Collections: | 專書/專書篇章 |
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