Modeling market mechanism with minority game

@article{citeulike:764030, abstract = {Using the minority game model we study a broad spectrum of problems of market mechanism. We study the role of different types of agents: producers, speculators as well as noise traders. The central issue here is the information flow: producers feed in the information whereas speculators make it away. How well each agent fares in the common game depends on the market conditions, as well as their sophistication. Sometimes there is much to gain with little effort, sometimes great effort virtually brings no more incremental gain. Market impact is also shown to play an important role, a strategy should be judged when it is actually used in play for its quality. Though the minority game is an extremely simplified market model, it allows to ask, analyze and answer many questions which arise in real markets.}, author = {Challet, Damien and Marsili, Matteo and Zhang, Yi-Cheng }, citeulike-article-id = {764030}, doi = {http://dx.doi.org/10.1016/S0378-4371(99)00446-X}, journal = {Physica A: Statistical Mechanics and its Applications}, keywords = {challet, marsili, minority-game}, month = {February}, number = {1-2}, pages = {284--315}, posted-at = {2006-07-19 08:26:45}, priority = {0}, title = {Modeling market mechanism with minority game}, url = {http://dx.doi.org/10.1016/S0378-4371(99)00446-X}, volume = {276}, year = {2000} }

TY - JOUR ID - citeulike:764030 L3 - citeulike-article-id:764030 N2 - Using the minority game model we study a broad spectrum of problems of market mechanism. We study the role of different types of agents: producers, speculators as well as noise traders. The central issue here is the information flow: producers feed in the information whereas speculators make it away. How well each agent fares in the common game depends on the market conditions, as well as their sophistication. Sometimes there is much to gain with little effort, sometimes great effort virtually brings no more incremental gain. Market impact is also shown to play an important role, a strategy should be judged when it is actually used in play for its quality. Though the minority game is an extremely simplified market model, it allows to ask, analyze and answer many questions which arise in real markets. IS - 1-2 JF - Physica A: Statistical Mechanics and its Applications EP - 315 TI - Modeling market mechanism with minority game VL - 276 SP - 284 KW - challet KW - marsili KW - minority-game AU - Challet, Damien AU - Marsili, Matteo AU - Zhang, Yi-Cheng PY - 2000/02/01/ UR - http://dx.doi.org/10.1016/S0378-4371(99)00446-X ER -