03378nam 2200709Ia 450 991045861550332120200520144314.01-281-10808-197866111080833-540-73879-710.1007/978-3-540-73879-4(CKB)1000000000404199(EBL)336981(OCoLC)209988935(SSID)ssj0000100301(PQKBManifestationID)11114073(PQKBTitleCode)TC0000100301(PQKBWorkID)10020360(PQKB)10962324(DE-He213)978-3-540-73879-4(MiAaPQ)EBC336981(PPN)123735572(Au-PeEL)EBL336981(CaPaEBR)ebr10230168(CaONFJC)MIL110808(EXLCZ)99100000000040419920071113d2008 uy 0engur|n|---|||||txtccrAgent-based modeling[electronic resource] the Santa Fe Institute artificial stock market model revisited /Norman Ehrentreich1st ed. 2008.Berlin ;New York Springerc20081 online resource (244 p.)Lecture notes in economics and mathematical systems,0075-8442 ;602Description based upon print version of record.3-540-73878-9 Includes bibliographical references (p. [195]-225) and index.Agent-Based Modeling in Economics -- The Rationale for Agent-Based Modeling -- The Concept of Minimal Rationality -- Learning in Economics -- Replicating the Stylized Facts of Financial Markets -- The Santa Fe Institute Artificial Stock Market Model Revisited -- The Original Santa Fe Institute Artificial Stock Market -- A Suggested Modification to the SFI-ASM -- An Analysis of Wealth Levels -- Selection, Genetic Drift, and Technical Trading -- Summary and Future Research.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. This has led to various misinterpretations of previous simulation results. The book is able to finally establish the Lecture notes in economics and mathematical systems ;602.Equilibrium (Economics)Econometric modelsEvolutionary economicsFinancial engineeringRational expectations (Economic theory)Electronic books.Equilibrium (Economics)Econometric models.Evolutionary economics.Financial engineering.Rational expectations (Economic theory)330.1Ehrentreich Norman971936Santa Fe Institute (Santa Fe, N.M.)MiAaPQMiAaPQMiAaPQBOOK9910458615503321Agent-based modeling2209807UNINA