Interaction of Human and Artificial Agents on Double Auction Markets - Simulations and Laboratory Experiments
AbstractThis paper provides an overview on the simulations and experiments we have done in order to better understand human-agent interaction in a market environment. We find that the introduction of software agents does not necessarily induce a more efficient market. More surprisingly, information on the existence of software agents in the market environment results in more efficient behavior of human traders.
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Bibliographic InfoPaper provided by Max Planck Institute of Economics, Strategic Interaction Group in its series Papers on Strategic Interaction with number 2003-22.
Length: 4 pages
Date of creation: Feb 2004
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-02-15 (All new papers)
- NEP-CBE-2004-02-15 (Cognitive & Behavioural Economics)
- NEP-CMP-2004-02-15 (Computational Economics)
- NEP-EXP-2004-02-15 (Experimental Economics)
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