Bounded Rationality and Market Micro-Behaviors: Case Studies Based on Agent-Based Double Auction Markets

Created by W.Langdon from gp-bibliography.bib Revision:1.8098

@InCollection{Chen:2010:maaECbit,

• author = "Shu-Heng Chen and Ren-Jie Zeng and Tina Yu and Shu G. Wang",
• title = "Bounded Rationality and Market Micro-Behaviors: Case Studies Based on Agent-Based Double Auction Markets",
• booktitle = "Multi-Agent Applications with Evolutionary Computation and Biologically Inspired Technologies: Intelligent Techniques for Ubiquity and Optimization",
• publisher = "IGI Global",
• year = "2010",
• editor = "Shu-Heng Chen and Yasushi Kambayashi and Hiroshi Sato",
• chapter = "5",
• pages = "78--94",
• keywords = "genetic algorithms, genetic programming",
• isbn13 = "9781605668987",
• DOI = "DOI:10.4018/978-1-60566-898-7.ch005",
• size = "17 pages",
• abstract = "We investigate the dynamics of trader behaviours using an agent-based genetic programming system to simulate double-auction markets. The objective of this study is two-fold. First, we seek to evaluate how, if any, the difference in trader rationality/intelligence influences trading behaviour. Second, besides rationality, we also analyse how, if any, the co-evolution between two learnable traders impacts their trading behaviors. We have found that traders with different degrees of rationality may exhibit different behavior depending on the type of market they are in. When the market has a profit zone to explore, the more intelligent trader demonstrates more intelligent behaviors. Also, when the market has two learnable buyers, their co-evolution produced more profitable transactions than when there was only one learnable buyer in the market. We have analyzed the trading strategies and found the learning behaviors are very similar to humans in decision-making. We plan to conduct human subject experiments to validate these results in the near future.",
• notes = "Shu-Heng Chen (National Chengchi University, Taiwan), Ren-Jie Zeng (Taiwan Institute of Economic Research, Taiwan), Tina Yu (Memorial University of Newfoundland, Canada) and Shu G. Wang (National Chengchi University, Taiwan)",

}

Genetic Programming entries for Shu-Heng Chen Ren-Jie Zeng Tina Yu Shu G Wang

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