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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 2002-03
上傳時間 9-Jan-2009 11:22:03 (UTC+8)
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
     2002, pp 357-377
資料類型 book/chapter
dc.creator (作者) 陳樹衡;C.-C. Tai;B.-T. Chiezh_TW
dc.creator (作者) Chen,Shu-Heng-
dc.date (日期) 2002-03en_US
dc.date.accessioned 9-Jan-2009 11:22:03 (UTC+8)-
dc.date.available 9-Jan-2009 11:22:03 (UTC+8)-
dc.date.issued (上傳時間) 9-Jan-2009 11:22:03 (UTC+8)-
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/23017-
dc.description.abstract (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.-
dc.format application/en_US
dc.language enen_US
dc.language en-USen_US
dc.language.iso en_US-
dc.relation (關聯) Genetic Algorithms and Genetic Programming in Computational Finance
     2002, pp 357-377
en_US
dc.title (題名) Individual Rationality as a Partial Impediment to Market Efficiencyen_US
dc.type (資料類型) book/chapteren