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Mathew Effect in Artificial Stock Market

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Listed:
  • Pei-Ling Zhou
  • Zi-Nan Tang
  • Tao Zhou
  • Jing-Ting Wang
  • Chun-Xia Yang

Abstract

In this article, we established a stock market model based on agents' investing mentality. The agents decide whether to purchase the shares at the probability, according to their anticipation of the market's behaviors. The expectation of the amount of shares they want to buy is directly proportional to the value of asset they hold. The agents sell their shares because of the gaining-profit psychology, stopping-loss psychology, or dissatisfaction with the long-time congealing of the assets. We studied how the distribution of agent's assets varies along with systemic evolution. The experiments show us obvious Mathew effect on asset distribution in the artificial stock market, and we have found that the Mathew effect on asset distribution was more and more salient along with the increasing of system running time, stock market size and agents' activity extent.

Suggested Citation

  • Pei-Ling Zhou & Zi-Nan Tang & Tao Zhou & Jing-Ting Wang & Chun-Xia Yang, 2004. "Mathew Effect in Artificial Stock Market," Papers cond-mat/0406365, arXiv.org.
    • Handle: RePEc:arx:papers:cond-mat/0406365
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    File URL: http://arxiv.org/pdf/cond-mat/0406365
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