Summary
Although the distribution of orders follows exponential distribution is reported in a market study, researchers rarely questioned about how differences among order distributions affect the rate of investment returns (RI) and contract rate (CR). In this study, we compared several order distributions (OD) using U-Mart (Unreal Market as an Artificial Research Testbed), an artificial market simulation system. We also controlled the type of time series of spot price data (PI) and the average of the distribution (m) in our experiment. We found that CR attains the maximum when m= 10, ODs were Constant and PIs were Down. The average RI attains maximum in most of the cases when m= 50, PIs were Up and ODs are Uniform and Constant.
These results may suggest further study about that (1) which quantity management strategy is profitable for a trading agent and that (2) which kind of order distribution can improve market efficiency is needed.
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© 2006 Springer-Verlag Berlin Heidelberg
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Yamamoto, S., Wada, S., Kawagoe, T. (2006). How Do the Differences Among Order Distributions Affect the Rate of Investment Returns and the Contract Rate. In: Beckmann, M., et al. Artificial Economics. Lecture Notes in Economics and Mathematical Systems, vol 564. Springer, Berlin, Heidelberg. https://doi.org/10.1007/3-540-28547-4_19
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DOI: https://doi.org/10.1007/3-540-28547-4_19
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-28578-6
Online ISBN: 978-3-540-28547-2
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