Realistic Simulation of Financial Markets

Author: Hajime Kita
Publisher: Springer
ISBN: 9784431550570
Release Date: 2016-07-06
Genre: Business & Economics

This book takes up unique agent-based approaches to solving problems related to stock and their derivative markets. Toward this end, the authors have worked for more than 15 years on the development of an artificial market simulator called U-Mart for use as a research and educational tool. A noteworthy feature of the U-Mart simulator compared to other artificial market simulators is that U-Mart is an ultra-realistic artificial stock and their derivative market simulator. For example, it can simulate “arrowhead,” a next-generation trading system used in the Tokyo Stock Exchange and other major markets, as it takes into consideration the institutional design of the entire market. Another interesting feature of the U-Mart simulator is that it permits both human and computer programs to participate simultaneously as traders in the artificial market. In this book, first the details of U-Mart are explained, enabling readers to install and run the simulator on their computers for research and educational purposes. The simulator thus can be used for gaming simulation of the artificial market and even for users as agents to implement their own trading strategies for agent-based simulation (ABS).The book also presents selected research cases using the U-Mart simulator. Here, topics include automated acquisition of trading strategy using artificial intelligence techniques, evaluation of a market maker system to treat thin markets such as those for small and regional businesses, systemic risk analysis of the financial market considering institutional design of the market, and analysis of how humans behave and learn in gaming simulation. New perspectives on artificial market research are provided, and the power, potential, and challenge of ABS are discussed. As explained in this important work, ABS is considered to be an effective tool as the third approach of social science, an alternative to traditional literary and mathematical approaches.

Simulation of Financial Markets with Agent Based Model

Author: Hajime Kita
Publisher: Springer
ISBN: 4431550569
Release Date: 2015-12-25
Genre: Business & Economics

This book takes up unique agent-based approaches to solving problems related to stock and their derivative markets. Toward this end, the authors have worked for more than 15 years on the development of an artificial market simulator called U-Mart for use as a research and educational tool. A noteworthy feature of the U-Mart simulator compared to other artificial market simulators is that U-Mart is an ultra-realistic artificial stock and their derivative market simulator. For example, it can simulate “arrowhead,” a next-generation trading system used in the Tokyo Stock Exchange and other major markets, as it takes into consideration the institutional design of the entire market. Another interesting feature of the U-Mart simulator is that it permits both human and computer programs to participate simultaneously as traders in the artificial market. In this book, first the details of U-Mart are explained, enabling readers to install and run the simulator on their computers for research and educational purposes. The simulator thus can be used for gaming simulation of the artificial market and even for users as agents to implement their own trading strategies for agent-based simulation (ABS).The book also presents selected research cases using the U-Mart simulator. Here, topics include automated acquisition of trading strategy using artificial intelligence techniques, evaluation of a market maker system to treat thin markets such as those for small and regional businesses, systemic risk analysis of the financial market considering institutional design of the market, and analysis of how humans behave and learn in gaming simulation. New perspectives on artificial market research are provided, and the power, potential, and challenge of ABS are discussed. As explained in this important work, ABS is considered to be an effective tool as the third approach of social science, an alternative to traditional literary and mathematical approaches.

Agent based Models

Author: Domenico Delli Gatti
Publisher: Cambridge University Press
ISBN: 9781108243988
Release Date: 2018-03-22
Genre: Business & Economics

In contrast to mainstream economics, complexity theory conceives the economy as a complex system of heterogeneous interacting agents characterised by limited information and bounded rationality. Agent Based Models (ABMs) are the analytical and computational tools developed by the proponents of this emerging methodology. Aimed at students and scholars of contemporary economics, this book includes a comprehensive toolkit for agent-based computational economics, now quickly becoming the new way to study evolving economic systems. Leading scholars in the field explain how ABMs can be applied fruitfully to many real-world economic examples and represent a great advancement over mainstream approaches. The essays discuss the methodological bases of agent-based approaches and demonstrate step-by-step how to build, simulate and analyse ABMs and how to validate their outputs empirically using the data. They also present a wide set of applications of these models to key economic topics, including the business cycle, labour markets, and economic growth.

Bulletin of the Atomic Scientists

Author:
Publisher:
ISBN:
Release Date: 1973-10
Genre:

The Bulletin of the Atomic Scientists is the premier public resource on scientific and technological developments that impact global security. Founded by Manhattan Project Scientists, the Bulletin's iconic "Doomsday Clock" stimulates solutions for a safer world.

Die Wissenschaften vom K nstlichen

Author: Herbert A. Simon
Publisher: Springer
ISBN: 3709193834
Release Date: 2012-01-22
Genre: Computers

Die Wissenschaften vom Künstlichen von Herbert A. Simon gilt seit dem Erscheinen der ersten Ausgabe im Jahr 1969 als "Klassiker" der Literatur zum Thema Künstliche Intelligenz. Simon hat zusammen mit den Computerwissenschaftlern Allen Newell, Marvin Minsky und John McCarthy Mitte der fünfziger Jahre das so bezeichnete - von Alan Turing antizipierte - Forschungsgebiet der Computerwissenschaft und der Psychologie ins Leben gerufen. Seine herausragende, allgemeinverständliche Darstellung von Grundüberlegungen und philosophischen Aspekten der Künstlichen Intelligenz ist heute aktueller denn je, nicht nur wegen der ständig zunehmenden Bedeutung der Forschung und Entwicklung auf diesem Gebiet, sondern auch aufgrund des verbreiteten Mangels an Grundkenntnissen für eine kritische Auseinandersetzung mit der Künstlichen Intelligenz.

Animal Spirits

Author: George A. Akerlof
Publisher: Campus Verlag
ISBN: 9783593389370
Release Date: 2009-03-02
Genre: Political Science

Viel zu lange hat die Ökonomie einen der wichtigsten Faktoren im wirtschaftlichen Agieren von Menschen vernachlässigt: die Animal Spirits, also die nicht-rationalen Aspekte unseres Handelns. Ein großer Fehler, sagen George A. Akerlof und Robert J. Shiller, dessen Folgen wir in der Wirtschaftskrise täglich neu zu spüren bekommen. Sie fordern, das Verhalten des Menschen in der Wirtschaft wieder stärker zu berücksichtigen, anstatt sich auf reinen Marktglauben zu konzentrieren. Dieses Buch ist das Ergebnis ihrer langjährigen Forschungsarbeit. Es zeigt uns, wie erfolgreiches ökonomisches Denken und Handeln in der Zukunft aussehen muss.

Denken hilft zwar n tzt aber nichts

Author: Dan Ariely
Publisher: Droemer eBook
ISBN: 9783426402092
Release Date: 2010-06-16
Genre: Psychology

Die Logik der Unvernunft Wie gehen wir mit Geld um? Was bedeutet es uns? Warum sind so viele Menschen bereit, sich hoffnungslos zu verschulden? Und was treibt Banker, den Kollaps unseres Finanzsystems zu riskieren? In der erweiterten Neuausgabe seines internationalen Bestsellers zeigt Dan Ariely, wie unsere Entscheidungen gelenkt werden und weshalb wir in vielen Lebenssituationen zu unserem eigenen Nachteil handeln. »Ein ebenso amüsantes wie lehrreiches Buch.« Der Spiegel Denken hilft zwar, nützt aber nichts von Dan Ariely: im eBook erhältlich!

Warum wir kooperieren

Author: Michael Tomasello
Publisher:
ISBN: 3518260367
Release Date: 2010
Genre: Altruism

Seit vielen Jahrhunderten wird die Frage nach der Natur des Menschen von zwei grundsätzlichen Positionen bestimmt: Hobbes' Meinung, daß die Menschen egoistisch zur Welt kommen und die Gesellschaft sie zur Kooperation erziehen muß, und Rousseaus Darstellung, nach der die Menschen von Natur aus kooperativ sind und später von ihrem Umfeld zu Egoisten gemacht werden. In "Warum wir kooperieren" berichtet Tomasello von wegweisenden Studien mit Kindern und Schimpansen, die neues Licht auf diese uralte Frage werfen. Kinder sind von Geburt an hilfsbereit und kooperativ, lernen aber im Laufe ihres Heranwachsens, eher selektiv zu kooperieren und beginnen den sozialen Normen ihrer Gruppe zu folgen.