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Realistic Simulation of Financial Markets - Analyzing Market Behaviors by the Third Mode of Science (Hardcover, 1st ed. 2016)
Loot Price: R3,429
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Realistic Simulation of Financial Markets - Analyzing Market Behaviors by the Third Mode of Science (Hardcover, 1st ed. 2016)
Series: Evolutionary Economics and Social Complexity Science, 4
Expected to ship within 12 - 17 working days
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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.
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