Artificial economic life: a simple model of a stockmarket
Publication
, Journal Article
Palmer, RG; Brian Arthur, W; Holland, JH; LeBaron, B; Tayler, P
Published in: Physica D: Nonlinear Phenomena
August 1, 1994
We describe a model of a stockmarket in which independent adaptive agents can buy and sell stock on a central market. The overall market behavior, such as the stock price time series, is an emergent property of the agents' behavior. This approach to modelling a market is contrasted with conventional rational expectations approaches. Our model does not necessarily converge to an equilibrium, and can show bubbles, crashes, and continued high trading volume. © 1994.
Duke Scholars
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Published In
Physica D: Nonlinear Phenomena
DOI
ISSN
0167-2789
Publication Date
August 1, 1994
Volume
75
Issue
1-3
Start / End Page
264 / 274
Related Subject Headings
- Fluids & Plasmas
- 4903 Numerical and computational mathematics
- 4902 Mathematical physics
- 4901 Applied mathematics
- 0102 Applied Mathematics
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Palmer, R. G., Brian Arthur, W., Holland, J. H., LeBaron, B., & Tayler, P. (1994). Artificial economic life: a simple model of a stockmarket. Physica D: Nonlinear Phenomena, 75(1–3), 264–274. https://doi.org/10.1016/0167-2789(94)90287-9
Palmer, R. G., W. Brian Arthur, J. H. Holland, B. LeBaron, and P. Tayler. “Artificial economic life: a simple model of a stockmarket.” Physica D: Nonlinear Phenomena 75, no. 1–3 (August 1, 1994): 264–74. https://doi.org/10.1016/0167-2789(94)90287-9.
Palmer RG, Brian Arthur W, Holland JH, LeBaron B, Tayler P. Artificial economic life: a simple model of a stockmarket. Physica D: Nonlinear Phenomena. 1994 Aug 1;75(1–3):264–74.
Palmer, R. G., et al. “Artificial economic life: a simple model of a stockmarket.” Physica D: Nonlinear Phenomena, vol. 75, no. 1–3, Aug. 1994, pp. 264–74. Scopus, doi:10.1016/0167-2789(94)90287-9.
Palmer RG, Brian Arthur W, Holland JH, LeBaron B, Tayler P. Artificial economic life: a simple model of a stockmarket. Physica D: Nonlinear Phenomena. 1994 Aug 1;75(1–3):264–274.
Published In
Physica D: Nonlinear Phenomena
DOI
ISSN
0167-2789
Publication Date
August 1, 1994
Volume
75
Issue
1-3
Start / End Page
264 / 274
Related Subject Headings
- Fluids & Plasmas
- 4903 Numerical and computational mathematics
- 4902 Mathematical physics
- 4901 Applied mathematics
- 0102 Applied Mathematics