Information Dissemination and Aggregation in Asset Markets with Simple Intelligent Traders
AbstractVarious studies of asset markets have shown that traders are capable of learning and transmitting information through prices in many situations. In this paper we replace human traders with intelligent software agents in a series of simulated markets. Using these simple learning agents, we are able to replicate several features of the experiments with human subjects, specifically regarding (1) dissemination of information from informed to uninformed traders and (2) aggregation of information spread over different traders.
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Bibliographic InfoPaper provided by Society for Computational Economics in its series Computing in Economics and Finance 1999 with number 653.
Date of creation: 01 Mar 1999
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-1999-07-12 (All new papers)
- NEP-EVO-1999-07-12 (Evolutionary Economics)
- NEP-EXP-1999-07-12 (Experimental Economics)
- NEP-FIN-1999-07-12 (Finance)
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