| 来源类型 | Monograph (IIASA Interim Report)
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| 规范类型 | 报告
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| Some Preliminary Experiments with the Financial "Toy-Room". |
| Chiaromonte F; Berte M
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| 发表日期 | 1998
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| 出版者 | IIASA, Laxenburg, Austria: IR-98-091
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| 出版年 | 1998
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| 语种 | 英语
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| 摘要 | We describe some preliminary experiments realized with Financial "Toy-Room" (a micro-founded simulation environment for decentralized trade in a homogeneous financial asset). The experiments are aimed at testing the system, and exploring its flexibility in depicting specific contexts as sub-cases. For this purpose, we selected an issue that has been widely investigated in the literature: the existence and characterization of markets in which prices are (or are believed to be) "quality signals" passing information from informed to uninformed traders. In our out-of-equilibrium simulation analysis, we take agents to trade based on a "spread rule," and introduce "dis-synchronization" in agents' updating processes. Thus, we investigate how dis-synchronization, updating paces and spreads affect persistence of trade and the time-path of prices in extreme regimes (i.e. when all agents are informed, or all agents are uninformed). |
| 主题 | Technological and Economic Dynamics (TED)
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| URL | http://pure.iiasa.ac.at/id/eprint/5560/
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| 来源智库 | International Institute for Applied Systems Analysis (Austria)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/124776
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推荐引用方式
GB/T 7714 |
Chiaromonte F,Berte M. Some Preliminary Experiments with the Financial "Toy-Room".. 1998.
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文件名：
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IR-98-091.pdf
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格式：
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Adobe PDF
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