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In this paper we present an interacting-agent model of stock markets. We describe a stock market through an Ising-like model in order to formulate the tendency of traders getting to be influenced by the other traders' investment attitudes…

物理与社会 · 物理学 2013-09-11 Taisei Kaizoji

Agent-based models provide a constructive approach to studying emergent dynamics in life-like systems composed of interacting, adaptive agents. Financial markets serve as a canonical example of such systems, where collective price dynamics…

计算金融 · 定量金融 2026-04-28 Ryuji Hashimoto , Ryosuke Takata , Masahiro Suzuki , Yuki Tanaka , Kiyoshi Izumi

Lattice investment projects support process model with corruption is formulated and analyzed. The model is based on the Ising lattice model of ferromagnetic but takes deal with the social phenomenon. Set of corruption agents is considered.…

数理金融 · 定量金融 2019-01-28 O. A. Malafeyev , S. A. Nemnyugin

We describe a new model to simulate the dynamic interactions between market price and the decisions of two different kind of traders. They possess spatial mobility allowing to group together to form coalitions. Each coalition follows a…

统计力学 · 物理学 2009-10-31 Filippo Castiglione

Agent-based models help explain stock price dynamics as emergent phenomena driven by interacting investors. In this modeling tradition, investor behavior has typically been captured by two distinct mechanisms -- learning and heterogeneous…

计算机与社会 · 计算机科学 2025-11-12 Ryuji Hashimoto , Ryosuke Takata , Masahiro Suzuki , Yuki Tanaka , Kiyoshi Izumi

Following a long tradition of physicists who have noticed that the Ising model provides a general background to build realistic models of social interactions, we study a model of financial price dynamics resulting from the collective…

统计力学 · 物理学 2008-12-02 Didier Sornette , Wei-Xing Zhou

The aim of this paper is to propose a heterogeneous agent model of stock markets that develop complicated endogenous price fluctuations. We find occurrences of non-stationary chaos, or speculative bubble, are caused by the heterogeneity of…

混沌动力学 · 物理学 2013-09-11 Taisei Kaizoji

Some of the most relevant future applications of multi-agent systems like autonomous driving or factories as a service display mixed-motive scenarios, where agents might have conflicting goals. In these settings agents are likely to learn…

多智能体系统 · 计算机科学 2022-07-20 Kyrill Schmid , Lenz Belzner , Robert Müller , Johannes Tochtermann , Claudia Linnhoff-Popien

We are looking for the agent-based treatment of the financial markets considering necessity to build bridges between microscopic, agent based, and macroscopic, phenomenological modeling. The acknowledgment that agent-based modeling…

统计金融 · 定量金融 2019-01-01 V. Gontis , A. Kononovicius

We study the collective dynamics of a lattice model of stochastically interacting agents with a weighted field of vision. We assume that agents preferentially interact with neighbours, depending on their relative location, through velocity…

统计力学 · 物理学 2024-06-11 Shakti N. Menon , Trilochan Bagarti , Abhijit Chakraborty

In the present paper a model of a market consisting of real and financial interacting sectors is studied. Agents populating the stock market are assumed to be not able to observe the true underlying fundamental, and their beliefs are biased…

综合金融 · 定量金融 2018-06-13 Fausto Cavalli , Ahmad Naimzada , Nicolò Pecora , Marina Pireddu

In this thesis, we argue that (order-) lattice-based multi-agent information systems constitute a broad class of networked multi-agent systems in which relational data is passed between nodes. Mathematically modeled as lattice-valued…

多智能体系统 · 计算机科学 2023-04-06 Hans Riess

This paper introduces an agent-based artificial financial market in which heterogeneous agents trade one single asset through a realistic trading mechanism for price formation. Agents are initially endowed with a finite amount of cash and a…

统计力学 · 物理学 2009-11-07 Marco Raberto , Silvano Cincotti , Sergio M. Focardi , Michele Marchesi

We propose a three-state microscopic opinion formation model for the purpose of simulating the dynamics of financial markets. In order to mimic the heterogeneous composition of the mass of investors in a market, the agent-based model…

We study a lattice model of ``commons'', where a resource is shared locally among the agents of various cooperative tendency. The payoff function of an agent is proportional to the fraction of his operation rate and the net output of the…

统计力学 · 物理学 2007-05-23 Agha Afsar Ali

We propose a Markov jump process with the three-state herding interaction. We see our approach as an agent-based model for the financial markets. Under certain assumptions this agent-based model can be related to the stochastic description…

交易与市场微观结构 · 定量金融 2013-02-05 Aleksejus Kononovicius , Vygintas Gontis

We use the complex $\phi^4$ field at finite density as a model system for developing further techniques based on worldline formulations of lattice field theories. More specifically we: 1) Discuss new variants of the worm algorithm for…

高能物理 - 格点 · 物理学 2018-04-18 Mario Giuliani , Oliver Orasch , Christof Gattringer

Figgie is a card game that approximates open-outcry commodities trading. We design strategies for Figgie and study their performance and the resulting market behavior. To do this, we develop a flexible agent-based discrete-event market…

交易与市场微观结构 · 定量金融 2021-10-05 Steven DiSilvio , Yu , Luo , Anthony Ozerov

We study a dynamical Ising model of agents' opinions (buy or sell) with coupling coefficients reassessed continuously in time according to how past external news (magnetic field) have explained realized market returns. By combining herding,…

物理与社会 · 物理学 2008-12-02 Wei-Xing Zhou , Didier Sornette

We present a novel agent-based approach to simulating an over-the-counter (OTC) financial market in which trades are intermediated solely by market makers and agent visibility is constrained to a network topology. Dynamics, such as changes…

计量经济学 · 经济学 2024-05-07 James T. Wilkinson , Jacob Kelter , John Chen , Uri Wilensky
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