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Portfolio optimization is one of the essential fields of focus in finance. There has been an increasing demand for novel computational methods in this area to compute portfolios with better returns and lower risks in recent years. We…

Portfolio Management · Quantitative Finance 2021-12-01 MohammadAmin Fazli , Parsa Alian , Ali Owfi , Erfan Loghmani

Multi-agent planning (MAP) approaches have been typically conceived for independent or loosely-coupled problems to enhance the benefits of distributed planning between autonomous agents as solving this type of problems require less…

Artificial Intelligence · Computer Science 2015-01-30 Alejandro Torreño , Eva Onaindia , Óscar Sapena

Financial portfolio management (PM) is one of the most applicable problems in reinforcement learning (RL) owing to its sequential decision-making nature. However, existing RL-based approaches rarely focus on scalability or reusability to…

Portfolio Management · Quantitative Finance 2022-02-22 Zhenhan Huang , Fumihide Tanaka

Reinforcement learning (RL) has made significant strides in various complex domains. However, identifying an effective policy via RL often necessitates extensive exploration. Imitation learning aims to mitigate this issue by using expert…

Machine Learning · Computer Science 2025-08-12 Xuefeng Liu , Takuma Yoneda , Chaoqi Wang , Matthew R. Walter , Yuxin Chen

In this thesis, we develop a comprehensive account of the expressive power, modelling efficiency, and performance advantages of so-called trading agents (i.e., Deep Soft Recurrent Q-Network (DSRQN) and Mixture of Score Machines (MSM)),…

Portfolio Management · Quantitative Finance 2019-09-23 Angelos Filos

Machine Learning (ML) has been embraced as a powerful tool by the financial industry, with notable applications spreading in various domains including investment management. In this work, we propose a full-cycle data-driven investment…

Portfolio Management · Quantitative Finance 2021-05-20 Haoran Wang , Shi Yu

While multiagent systems have shown promise for tackling complex tasks via specialization, finetuning multiple agents simultaneously faces two key challenges: (1) credit assignment across agents, and (2) sample efficiency of expensive…

Artificial Intelligence · Computer Science 2026-02-05 Ed Li , Junyu Ren , Cat Yan

Trading markets represent a real-world financial application to deploy reinforcement learning agents, however, they carry hard fundamental challenges such as high variance and costly exploration. Moreover, markets are inherently a…

Machine Learning · Computer Science 2021-07-20 Yue Gao , Kry Yik Chau Lui , Pablo Hernandez-Leal

Centralized training with decentralized execution (CTDE) is a standard framework for cooperative multi-agent policy-gradient reinforcement learning, allowing agents to learn from joint information while acting from local observations.…

Machine Learning · Computer Science 2026-05-12 Chulabhaya Wijesundara , Andrea Baisero , Zhongheng Li , Gregory Castañón , Alan Carlin , Christopher Amato

The autonomous trading agent is one of the most actively studied areas of artificial intelligence to solve the capital market portfolio management problem. The two primary goals of the portfolio management problem are maximizing profit and…

Trading and Market Microstructure · Quantitative Finance 2019-09-10 Wonsup Shin , Seok-Jun Bu , Sung-Bae Cho

Portfolio management remains a crucial challenge in finance, with traditional methods often falling short in complex and volatile market environments. While deep reinforcement approaches have shown promise, they still face limitations in…

Machine Learning · Computer Science 2025-03-07 Fengchen Gu , Zhengyong Jiang , Ángel F. García-Fernández , Angelos Stefanidis , Jionglong Su , Huakang Li

Recursive Multi-Agent Trading System (RMATS) integrates four specialized agents -- Sentiment, Report, Analysis, and Risk -- coordinated through a recursive Manager Agent with iterative feedback loops. Experimental evaluation over a…

Multiagent Systems · Computer Science 2026-05-26 Jing Yang , Yichao Wu , Jianan Liu , Penghao Liang , Mengwei Yuan , Xianyou Li , Weiran Yan

In this paper a deep reinforcement based multi-agent path planning approach is introduced. The experiments are realized in a simulation environment and in this environment different multi-agent path planning problems are produced. The…

Machine Learning · Computer Science 2021-10-05 Mert Çetinkaya

Typical deep reinforcement learning (DRL) agents for dynamic portfolio optimization learn the factors influencing portfolio return and risk by analyzing the output values of the reward function while adjusting portfolio weights within the…

Machine Learning · Computer Science 2025-04-17 Ruoyu Sun , Angelos Stefanidis , Zhengyong Jiang , Jionglong Su

Multi-agent systems (MAS) and reinforcement learning (RL) are widely used to enhance the agentic capabilities of large language models (LLMs). MAS improves task performance through role-based orchestration, while RL uses environmental…

Machine Learning · Computer Science 2026-02-02 Yujie Zhao , Lanxiang Hu , Yang Wang , Minmin Hou , Hao Zhang , Ke Ding , Jishen Zhao

We introduce a new mathematical model of multi-agent reinforcement learning, the Multi-Agent Informational Learning Processor "MAILP" model. The model is based on the notion that agents have policies for a certain amount of information,…

Multiagent Systems · Computer Science 2021-11-17 J. K. Terry , Nathaniel Grammel

The transition from defined benefit to defined contribution pension plans shifts the responsibility for saving toward retirement from governments and institutions to the individuals. Determining optimal saving and investment strategy for…

Portfolio Management · Quantitative Finance 2022-06-14 Fatih Ozhamaratli , Paolo Barucca

Deep learning has enabled traditional reinforcement learning methods to deal with high-dimensional problems. However, one of the disadvantages of deep reinforcement learning methods is the limited exploration capacity of learning agents. In…

Machine Learning · Computer Science 2019-07-30 Thanh Nguyen , Ngoc Duy Nguyen , Saeid Nahavandi

Multi-agent planning (MAP) approaches are typically oriented at solving loosely-coupled problems, being ineffective to deal with more complex, strongly-related problems. In most cases, agents work under complete information, building…

Artificial Intelligence · Computer Science 2015-01-30 Alejandro Torreño , Eva Onaindia , Óscar Sapena

Multi-agent reinforcement learning involves multiple agents interacting with each other and a shared environment to complete tasks. When rewards provided by the environment are sparse, agents may not receive immediate feedback on the…

Machine Learning · Computer Science 2021-03-31 Baicen Xiao , Bhaskar Ramasubramanian , Radha Poovendran