03834nam 22008415 450 991082143300332120230810203418.01-281-10808-197866111080833-540-73879-710.1007/978-3-540-73879-4(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(Au-PeEL)EBL336981(CaPaEBR)ebr10230168(CaONFJC)MIL110808(PPN)123735572(EXLCZ)99100000000040419920100301d2008 u| 0engur|n|---|||||txtccrAgent-Based Modeling The Santa Fe Institute Artificial Stock Market Model Revisited /by Norman Ehrentreich1st ed. 2008.Berlin, Heidelberg :Springer Berlin Heidelberg :Imprint: Springer,2008.1 online resource (244 p.)Lecture Notes in Economics and Mathematical Systems,2196-9957 ;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,2196-9957 ;602MacroeconomicsEconometricsArtificial intelligenceOperations researchEconomicsHistoryMacroeconomics and Monetary EconomicsQuantitative EconomicsArtificial IntelligenceOperations Research and Decision TheoryHistory of Economic Thought and MethodologyMacroeconomics.Econometrics.Artificial intelligence.Operations research.EconomicsHistory.Macroeconomics and Monetary Economics.Quantitative Economics.Artificial Intelligence.Operations Research and Decision Theory.History of Economic Thought and Methodology.330.1Ehrentreich Norman1620163Santa Fe Institute (Santa Fe, N.M.)MiAaPQMiAaPQMiAaPQBOOK9910821433003321Agent-Based Modeling3952793UNINA