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Modelling an imperfect market

Author

Listed:
  • Donangelo, Raul
  • Hansen, Alex
  • Sneppen, Kim
  • Souza, Sergio R.

Abstract

We propose a simple market model where agents trade different types of products with each other by using money, relying only on local information. Value fluctuations of single products, combined with the condition of maximum profit in transactions, readily lead to persistent fluctuations in the wealth of individual agents.

Suggested Citation

  • Donangelo, Raul & Hansen, Alex & Sneppen, Kim & Souza, Sergio R., 2000. "Modelling an imperfect market," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 283(3), pages 469-478.
    • Handle: RePEc:eee:phsmap:v:283:y:2000:i:3:p:469-478
    DOI: 10.1016/S0378-4371(00)00177-1
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    Citations

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    Cited by:

    1. Johann Lussange & Ivan Lazarevich & Sacha Bourgeois-Gironde & Stefano Palminteri & Boris Gutkin, 2021. "Modelling Stock Markets by Multi-agent Reinforcement Learning," Computational Economics, Springer;Society for Computational Economics, vol. 57(1), pages 113-147, January.
    2. E. Samanidou & E. Zschischang & D. Stauffer & T. Lux, 2001. "Microscopic Models of Financial Markets," Papers cond-mat/0110354, arXiv.org.
    3. Donangelo, R. & Hansen, A. & Sneppen, K. & Souza, S.R., 2000. "Physics of fashion fluctuations," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 287(3), pages 539-545.
    4. E. Samanidou & E. Zschischang & D. Stauffer & T. Lux, 2007. "Agent-based Models of Financial Markets," Papers physics/0701140, arXiv.org.

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