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We present an experimental and simulated model of a multi-agent stock market driven by a double auction order matching mechanism. Studying the effect of cumulative information on the performance of traders, we find a non monotonic…

Physics and Society · Physics 2009-11-13 Bence Toth , Enrico Scalas , Juergen Huber , Michael Kirchler

Agent-based modeling and network science have been used extensively to advance our understanding of emergent collective behavior in systems that are composed of a large number of simple interacting individuals or agents. With the increasing…

Multiagent Systems · Computer Science 2019-03-14 Marcos Cardinot , Colm O'Riordan , Josephine Griffith , Matjaž Perc

Designing autonomous drone swarms is hampered by a vast design space spanning platform, algorithmic, and numerical-strength choices. We perform large-scale agent-based simulations in three canonical scenarios: swarm-on-swarm battle,…

Systems and Control · Electrical Eng. & Systems 2026-05-25 Abram H. Clark , Liraz Mudrik , Colton Kawamura , Nathan C. Redder , João P. Hespanha , Isaac Kaminer

Heterogeneous Multi-Embodied Agent Systems involve coordinating multiple embodied agents with diverse capabilities to accomplish tasks in dynamic environments. This process requires the collection, generation, and consumption of massive,…

Artificial Intelligence · Computer Science 2026-03-31 Xujia Li , Xin Li , Junquan Huang , Beirong Cui , Zibin Wu , Lei Chen

Large language model (LLM) agents have shown increasing promise for collaborative task completion. However, existing multi-agent frameworks often rely on static workflows, fixed roles, and limited inter-agent communication, reducing their…

Multiagent Systems · Computer Science 2026-02-13 Chengxuan Xia , Qianye Wu , Sixuan Tian , Yilun Hao

AI agents are increasingly deployed in complex, interactive environments, yet their runtime remains a major bottleneck for training, evaluation, and real-world use. Typical agent behavior unfolds sequentially, with each action requiring an…

Artificial Intelligence · Computer Science 2026-04-24 Naimeng Ye , Arnav Ahuja , Georgios Liargkovas , Yunan Lu , Kostis Kaffes , Tianyi Peng

Financial trading has been a challenging task, as it requires the integration of vast amounts of data from various modalities. Traditional deep learning and reinforcement learning methods require large training data and often involve…

Trading and Market Microstructure · Quantitative Finance 2024-11-15 Sorouralsadat Fatemi , Yuheng Hu

Computer-based modelling and simulation have become useful tools to facilitate humans to understand systems in different domains, such as physics, astrophysics, chemistry, biology, economics, engineering and social science. A complex system…

Artificial Intelligence · Computer Science 2021-02-03 Xing Su , Yan Kong , Weihua Li

The advent of artificial intelligence has led to a growing emphasis on data-driven modeling in macroeconomics, with agent-based modeling (ABM) emerging as a prominent bottom-up simulation paradigm. In ABM, agents (e.g., households, firms)…

Artificial Intelligence · Computer Science 2024-05-27 Nian Li , Chen Gao , Mingyu Li , Yong Li , Qingmin Liao

Multi-agent social interaction has clearly benefited from Large Language Models. However, current simulation systems still face challenges such as difficulties in scaling to diverse scenarios and poor reusability due to a lack of modular…

Physics and Society · Physics 2025-10-09 Gang Li , Jie Lin , Yining Tang , Ziteng Wang , Yirui Huang , Junyu Zhang , Shuang Luo , Chao Wu , Yike Guo

Economies and societal structures in general are complex stochastic systems which may not lend themselves well to algebraic analysis. An addition of subjective value criteria to the mechanics of interacting agents will further complicate…

General Finance · Quantitative Finance 2018-12-07 Dmitriy Volinskiy , Lana Cuthbertson , Omid Ardakanian

An artificial stock market is established based on multi-agent . Each agent has a limit memory of the history of stock price, and will choose an action according to his memory and trading strategy. The trading strategy of each agent evolves…

Other Condensed Matter · Physics 2009-11-10 Chun-Xia Yang , Tao Zhou , Pei-Ling Zhou , Jun Liu , Zi-Nan Tang

Computer simulation is finding a role in an increasing number of scientific disciplines, concomitant with the rise in available computing power. Realizing this inevitably requires access to computational power beyond the desktop, making use…

Distributed, Parallel, and Cluster Computing · Computer Science 2015-12-15 Stefan J. Zasada , Peter V. Coveney

Starting from the observation of the real trading activity, we propose a model of a stockmarket simulating all the typical phases taking place in a stock exchange. We show that there is no need of several classes of agents once one has…

Condensed Matter · Physics 2009-10-31 Lorenzo Matassini , Fabio Franci

We review the recent approaches to modelling financial markets based on multi-agent systems. After a brief summary of the basic stylised facts observed in real-market time-series we discuss some simple agent-based systems which are…

Physics and Society · Physics 2008-12-02 Tobias Galla , Giancarlo Mosetti , Yi-Cheng Zhang

In this paper we seek to demonstrate the predictability of stock market returns and explain the nature of this return predictability. To this end, we introduce investors with different investment horizons into the news-driven, analytic,…

General Finance · Quantitative Finance 2016-03-30 Dimitri Kroujiline , Maxim Gusev , Dmitry Ushanov , Sergey V. Sharov , Boris Govorkov

This paper presents novel solutions of the data-based synchronization problem for continuous-time multiagent systems. We consider the cases of homogeneous and heterogeneous systems. First, we obtain a data-based representation of the…

Systems and Control · Electrical Eng. & Systems 2024-08-08 Victor G. Lopez , Matthias A. Müller

Agent-based modeling (ABM) is a bottom-up modeling approach, where each entity of the system being modeled is uniquely represented as an independent decision-making agent. Large scale emergent behavior in ABMs is population sensitive. As…

Distributed, Parallel, and Cluster Computing · Computer Science 2017-04-12 Nuno Fachada , Vitor V. Lopes , Rui C. Martins , Agostinho C. Rosa

As LLM agents advance, they are increasingly mediating economic decisions, ranging from product discovery to transactions, on behalf of users. Such applications promise benefits but also raise many questions about agent accountability and…

Large Language Models (LLMs) have increasingly demonstrated the ability to facilitate the development of multi-agent systems that allow the interpretation of thoughts and actions generated by each individual. Promising advancements have…

Multiagent Systems · Computer Science 2024-09-24 Asher Sprigler , Alexander Drobek , Keagan Weinstock , Wendpanga Tapsoba , Gavin Childress , Andy Dao , Lucas Gral