Artificial Economics and Self Organization by Stephan Leitner & Friederike Wall

Author:Stephan Leitner & Friederike Wall
Language: eng
Format: epub
Publisher: Springer International Publishing, Cham

Each agent can submit both orders, Buy and Sell.

Buy and Sell orders arise with equal probability (p = 0. 5).

Quantities are drawn in the range [10, 100].

ITRreceive during the experiment an information consisting in the “true” value of the traded asset. This value may either be 149.5 (when the information is “good”) or 140.5 (when it is “bad”). Prior to receiving this information, ITR do not send orders to the market. As soon as they receive this information, they try to use it efficiently. Their basic behaviour can be summarized as follows (the pseudo-code describing these agents is available in Appendix): Like ZITs, they only send limit orders.

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