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原文連結
論文資訊
- 類型：已發表論文
- 日期：1999
摘要
This paper presents results from an experimental computer simulated stock market. In this market 人工智慧 algorithms take on the role of traders. They make predictions about the future, and buy and sell stock as indicated by their expectations of future risk and return. Prices are set endogenously to clear the market. Time series from this market are analyzed from the standpoint of well-known empirical features in real markets. The simulated market is able to replicate several of these phenomenon, including fundamental and technical predictability, volatility persistence, and leptokurtosis. Moreover, 智能體 behavior is shown to be consistent with these features, in that they condition on the variables that are found to be significant in the time series tests. 智能體s are also able to collectively le
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