Agent-Based Modeling: The Santa Fe Institute Artificial Stock Market Model Revisited
Language: English
Artificial Intelligence Business & Economics Computers Economic History Economics Macroeconomics Operations Research Theory
Publisher: Springer Science & Business Media
Published: Oct 25, 2007
Description:
This book reconciles the existence of technical trading with the Efficient Market Hypothesis. By analyzing a well-known agent-based model, the Santa Fe Institute Artificial Stock Market (SFI-ASM), it finds that when selective forces are weak, financial evolution cannot guarantee that only the fittest trading rules will survive. Its main contribution lies in the application of standard results from population genetics which have widely been neglected in the agent-based community.