کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
884793 | 912417 | 2006 | 15 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Modeling a large population of traders: Mimesis and stability
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
We introduce a method of accurately and efficiently modeling a large population of participants in a financial market. Each participant is modeled as having an internal preference state affected by the continual arrival of exogenous information and by the behavior of others. In order to describe a community of traders, we introduce a population equation that is derived rigorously from the underlying single-agent model. The population equation is used to investigate collective behavior with mimetic interactions. We observe and study the sharp transitions in parameter space from a stable time-independent regime to instability where the demand and supply diverge sharply.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Behavior & Organization - Volume 61, Issue 4, December 2006, Pages 562–576
Journal: Journal of Economic Behavior & Organization - Volume 61, Issue 4, December 2006, Pages 562–576
نویسندگان
Ahmet Omurtag, Lawrence Sirovich,