TY - GEN
T1 - Agent-based financial markets
T2 - 2016 IEEE Symposium Series on Computational Intelligence, SSCI 2016
AU - Todd, Andrew
AU - Beling, Peter
AU - Scherer, William
AU - Yang, Steve Y.
N1 - Publisher Copyright:
© 2016 IEEE.
PY - 2017/2/9
Y1 - 2017/2/9
N2 - An agent-based model is a computer simulation driven by the individual decisions of programmed agents. Such models provide a promising alternative to traditional economic modeling in that they can fully capture the diversity of agents and the institutional detail of the underlying an economic system. In this paper, we provide a brief methodological review of the agent-based approach to modeling financial markets. We review the research strategy, which is organized into a discussion of formulation, implementation, verification and validation. We conclude the paper with a review of the domain focusing on modeling market participants and market institutions.
AB - An agent-based model is a computer simulation driven by the individual decisions of programmed agents. Such models provide a promising alternative to traditional economic modeling in that they can fully capture the diversity of agents and the institutional detail of the underlying an economic system. In this paper, we provide a brief methodological review of the agent-based approach to modeling financial markets. We review the research strategy, which is organized into a discussion of formulation, implementation, verification and validation. We conclude the paper with a review of the domain focusing on modeling market participants and market institutions.
UR - http://www.scopus.com/inward/record.url?scp=85015987228&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85015987228&partnerID=8YFLogxK
U2 - 10.1109/SSCI.2016.7850016
DO - 10.1109/SSCI.2016.7850016
M3 - Conference contribution
AN - SCOPUS:85015987228
T3 - 2016 IEEE Symposium Series on Computational Intelligence, SSCI 2016
BT - 2016 IEEE Symposium Series on Computational Intelligence, SSCI 2016
Y2 - 6 December 2016 through 9 December 2016
ER -