Is individual rationality essential to market price formation? The contribution of zero‐intelligence agent trading models
Author
Abstract
Suggested Citation
DOI: 10.1080/13501780802225528
Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-01405306
Download full text from publisher
To our knowledge, this item is not available for download. To find whether it is available, there are three options:1. Check below whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Other versions of this item:
- Paola Tubaro, 2009. "Is individual rationality essential to market price formation? The contribution of zero-intelligence agent trading models," Journal of Economic Methodology, Taylor & Francis Journals, vol. 16(1), pages 1-19.
References listed on IDEAS
- J. Doyne Farmer & Paolo Patelli & Ilija I. Zovko, 2003. "The Predictive Power of Zero Intelligence in Financial Markets," Papers cond-mat/0309233, arXiv.org, revised Feb 2004.
- Wagner, Alfred, 1891.
"Marshall's Principles of Economics,"
History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 5, pages 319-338.
- Marshall, Alfred, 1890. "The Principles of Economics," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number marshall1890.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Brewer, Paul & Ratan, Anmol, 2019. "Profitability, efficiency, and inequality in double auction markets with snipers," Journal of Economic Behavior & Organization, Elsevier, vol. 164(C), pages 486-499.
- Paola Tubaro, 2011.
"Computational Economics,"
Chapters, in: John B. Davis & D. Wade Hands (ed.), The Elgar Companion to Recent Economic Methodology, chapter 10,
Edward Elgar Publishing.
- Paola Tubaro, 2011. "Computational economics," Post-Print hal-01372973, HAL.
- Moscati, Ivan & Tubaro, Paola, 2009. "Random behavior and the as-if defense of rational choice theory in demand experiments," LSE Research Online Documents on Economics 27001, London School of Economics and Political Science, LSE Library.
- Giuseppe Attanasi & Samuele Centorrino & Ivan Moscati, 2011. "Double Auction Equilibrium and Efficiency in a Classroom Experimental Search Market," LERNA Working Papers 11.03.337, LERNA, University of Toulouse.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- A.J. Arnold, 2017. "Capital reduction case law decisions and the development of the capital maintenance doctrine in late-nineteenth-century England," Accounting and Business Research, Taylor & Francis Journals, vol. 47(2), pages 172-190, February.
- Basant Kapur, 1997. "Book Reviews," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 6(1), pages 113-116.
- SAITO Yukiko, 2013. "Role of Hub Firms in Geographical Transaction Network," Discussion papers 13080, Research Institute of Economy, Trade and Industry (RIETI).
- Charlot, Sylvie & Duranton, Gilles, 2004.
"Communication externalities in cities,"
Journal of Urban Economics, Elsevier, vol. 56(3), pages 581-613, November.
- Charlot, Sylvie & Duranton, Gilles, 2003. "Communication Externalities in Cities," CEPR Discussion Papers 4048, C.E.P.R. Discussion Papers.
- Charlot, Sylvie & Duranton, Gilles, 2003. "Communication externalities in cities," LSE Research Online Documents on Economics 20016, London School of Economics and Political Science, LSE Library.
- Sylvie Charlot & Gilles Duranton, 2003. "Communication Externalities in Cities," CEP Discussion Papers dp0592, Centre for Economic Performance, LSE.
- Sylvie Charlot & Gilles Duranton, 2004. "Communication externalities in cities [[Externalités de communication dans les villes]]," Post-Print hal-02683302, HAL.
- Mark Freel, 2000. "External linkages and product innovation in small manufacturing firms," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 12(3), pages 245-266, July.
- Emanuela Marrocu & Raffaele Paci & Stefano Usai, 2013.
"Productivity Growth In The Old And New Europe: The Role Of Agglomeration Externalities,"
Journal of Regional Science, Wiley Blackwell, vol. 53(3), pages 418-442, August.
- E. Marrocu & R. Paci & S. Usai, 2010. "Productivity growth in the Old and New Europe: the role of agglomeration externalities," Working Paper CRENoS 201024, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
- Raffaele Paci & Emanuela Marrocu & Stefano Usai, 2011. "Productivity growth in the Old and New Europe: the role of agglomeration externalities," ERSA conference papers ersa11p200, European Regional Science Association.
- David Doloreux & Jose Gaviria de la Puerta & Iker Pastor-López & Igone Porto Gómez & Borja Sanz & Jon Mikel Zabala-Iturriagagoitia, 2019. "Territorial innovation models: to be or not to be, that’s the question," Scientometrics, Springer;Akadémiai Kiadó, vol. 120(3), pages 1163-1191, September.
- Yun, Kwan Koo, 1995. "The Dubovickii-Miljutin Lemma and characterizations of optimal allocations in non-smooth economies," Journal of Mathematical Economics, Elsevier, vol. 24(5), pages 435-460.
- Duranton, Gilles & Jayet, Hubert, 2011.
"Is the division of labour limited by the extent of the market? Evidence from French cities,"
Journal of Urban Economics, Elsevier, vol. 69(1), pages 56-71, January.
- Duranton, Gilles & Jayet, Hubert, 2005. "Is the Division of Labour Limited By the Extent of the Market? Evidence from French Cities," CEPR Discussion Papers 5087, C.E.P.R. Discussion Papers.
- Gilles Duranton & Hubert Jayet, 2011. "Is the division of labour limited by the extent of the market? Evidence from French cities," Post-Print hal-02317876, HAL.
- Ludwig von Auer & Andranik Stepanyan & Mark Trede, 2019.
"Classifying industries into types of relative concentration,"
Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 182(3), pages 1017-1037, June.
- Ludwig von Auer & Andranik Stepanyan & Mark Trede, 2016. "Classifying Industries Into Types of Relative Concentration," Research Papers in Economics 2016-13, University of Trier, Department of Economics.
- Ludwig von Auer & Andranik Stepanyan & Mark Trede, 2016. "Classifying Industries Into Types of Relative Concentration," CQE Working Papers 5516, Center for Quantitative Economics (CQE), University of Muenster.
- Kristien Werck & Bruno Heyndels & Benny Geys, 2008.
"The impact of ‘central places’ on spatial spending patterns: evidence from Flemish local government cultural expenditures,"
Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 32(1), pages 35-58, March.
- Werck, Kristien & Heyndels, Bruno & Geys, Benny, 2007. "The impact of central places on spatial spending patterns: evidence from Flemish local government cultural expenditures [Der Einfluss ‘Zentraler Orte’ auf räumliche Ausgabenmuster: eine empirische ," Discussion Papers, Research Unit: Market Processes and Governance SP II 2007-10, WZB Berlin Social Science Center.
- Pierre-Philippe Combes & Sylvie Démurger & Shi Li, 2017.
"Productivity Gains from Agglomeration and Migration in the People's Republic of China between 2002 and 2013,"
Asian Development Review, MIT Press, vol. 34(2), pages 184-200, September.
- Pierre-Philippe Combes & Sylvie Démurger & Shi Li, 2017. "Productivity Gains from Agglomeration and Migration in the People's Republic of China between 2002 and 2013," Post-Print halshs-01638247, HAL.
- Vind, Karl, 1995.
"Perfect competition or the core,"
European Economic Review, Elsevier, vol. 39(9), pages 1733-1745, December.
- : Karl Vind, 1993. "Perfect Competition or the Core," Discussion Papers 93-12, University of Copenhagen. Department of Economics.
- Ho Yeon KIM & Petra de Jong & Jan Rouwendal & Aleid Brouwer, 2012. "Shrinking population and the urban hierarchy [Housing preferences and attribute importance among Dutch older adults: a conjoint choice experiment]," ERSA conference papers ersa12p350, European Regional Science Association.
- Evert-Jan Visser & Oedzge Atzema, 2007. "With or Without Clusters: Facilitating Innovation through a Differentiated and Combined Network Approach," European Planning Studies, Taylor & Francis Journals, vol. 16(9), pages 1169-1188, April.
- Wang, Shilei, 2013.
"Dynamical trading mechanisms in limit order markets,"
Algorithmic Finance, IOS Press, vol. 2(3-4), pages 213-231.
- Shilei Wang, 2013. "Dynamical Trading Mechanism in Limit Order Markets," Papers 1303.3133, arXiv.org.
- John P. Watkins, 1998. "Towards a Reconsideration of Social Evolution: Symbiosis and Its Implications for Economics," Journal of Economic Issues, Taylor & Francis Journals, vol. 32(1), pages 87-106, March.
- SHIMAMOTO Daichi & Yu Ri KIM & TODO Yasuyuki, 2019. "The Effect of Social Interactions on Exporting Activities: Evidence from Micro, Small, and Medium-Sized Enterprises in rural Vietnam," Discussion papers 19020, Research Institute of Economy, Trade and Industry (RIETI).
- Carlino, Gerald & Kerr, William R., 2015.
"Agglomeration and Innovation,"
Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 349-404,
Elsevier.
- Gerald A. Carlino & William R. Kerr, 2014. "Agglomeration and innovation," Working Papers 14-26, Federal Reserve Bank of Philadelphia.
- Gerald Carlino & William R. Kerr, 2014. "Agglomeration and Innovation," Harvard Business School Working Papers 15-007, Harvard Business School.
- Carlino, Gerald & Kerr, William R., 2015. "Agglomeration and innovation," Research Discussion Papers 27/2015, Bank of Finland.
- Gerald Carlino & William R. Kerr, 2014. "Agglomeration and Innovation," NBER Working Papers 20367, National Bureau of Economic Research, Inc.
- Faggio, Giulia & Silva, Olmo & Strange, William C., 2019.
"Tales of the city: what do agglomeration cases tell us about agglomeration in general?,"
LSE Research Online Documents on Economics
102721, London School of Economics and Political Science, LSE Library.
- Giulia Faggio & Olmo Silva & William C. Strange, 2019. "Tales of the city: what do agglomeration cases tell us about agglomeration in general?," CEP Discussion Papers dp1619, Centre for Economic Performance, LSE.
- Faggio, G. & Silva, O. & Strange, W.C., 2019. "Tales of the City: What Do Agglomeration Cases Tell Us About Agglomeration in General?," Working Papers 19/10, Department of Economics, City University London.
More about this item
Keywords
rationality assumptions; utility maximization; experimental markets; partial equilibrium; Marshallian dynamics; zero‐intelligence agents; price formation;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-01405306. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD). General contact details of provider: https://hal.archives-ouvertes.fr/ .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.