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政大機構典藏 > 社會科學學院 > 經濟學系 > 期刊論文 > Item 140.119/48596

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/48596

Title:	Trading Restrictions Price Dynamics and Allocative Efficiency in Double Auction Markets：Analysis Based on Agent-Based Modeling and Simulations
Authors:	陳樹衡
Date:	2003
Issue Date:	2010-11-24 22:10:45 (UTC+8)
Abstract:	In this paper we conduct two experiments within an agent-based double auction market. These two experiments allow us to see the effect of learning and smartness on price dynamics and allocative efficiency. Our results are largely consistent with the stylized facts observed in experimental economics with human subjects. From the amelioration of price deviation and allocative efficiency, the effect of learning is vividly seen. However, smartness does not enhance market performance. In fact, the experiment with smarter agents (agents without a quote limit) results in a less stable price dynamics and lower allocative efficiency. [ABSTRACT FROM AUTHOR]
Relation:	Advances in Complex Systems,6(3),283-302
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1142/S021952590300089X
DOI:	10.1142/S021952590300089X
Appears in Collections:	[經濟學系] 期刊論文

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