Abstract
This chapter gives an overview of the agent-based simulation (ABS ) that includes artificial markets (AM ), market models based on ABS. First, various methods of computer simulation for social sciences are briefly introduced and the characteristics of ABS are discussed relative to other methods. Next, important issues related to ABS are examined. Gaming simulation, which is based on human subjects, offers an alternative to computer simulation for studying social systems, and hybridization of gaming and ABS are also discussed. Finally, artificial market models are introduced and the characteristics of the U-Mart are clarified.
Keywords
- Artificial Market Model
- Agent-based Simulation (ABS)
- Gaming Simulation
- Middle Range Models
- Social Interaction Model
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
In Chap. 3, a similar characteristic of a simulator is expressed by the word ‘fidelity’.
References
W.B. Arthur, J.H. Holland, B. LeBaron, R. Palmer, P. Tayler, Asset pricing under endogenous expectations in an artificial stock market. Technical report, Santa Fe Institute (1996)
R. Axelrod, The Evolution of Cooperation (Basic Books, New York, 1984)
R. Axelrod, The Complexity of Cooperation: Agent-Based Models of Competition and Collaboration (Princeton University Press, Princeton, 1997)
A.L. Barabasi, Linked: How Everything Is Connected to Everything Else and What It Means for Business, Science, and Everyday Life (Purseus Publishing, Cambridge, 2002)
J.M. Epstein, R. Axtell, Growing Artificial Societies: Social Science from the Bottom Up (Brookings Institute Press, Washington, DC, 1996)
N. Gilbert, Agent-Based Models (Sage Publications, Thousand Oaks, 2008)
N. Gilbert, K.G. Troitzsch, Simulation for the Social Scientist, 2nd edn. (Open University Press, Maidenhead, 2005)
K. Izumi, K. Ueda, Analysis of exchange rate scenarios using an artificial market approach. Inf. Process. Soc. Jpn. 2000-ICS-119 99, 1–8 (2000, in Japanese)
D.H. Meadows, D.L. Meadows, J. Randers, W.W. Behrens III, The Limit to Growth (Universe Books, New York, 1972)
S. Russell, P. Norvig, Artificial Intelligence: A Modern Approach, 2nd edn. (Prentice Hall, Upper Saddle River, 2002)
T.C. Schelling, Dynamic models of segregation. J. Math. Sociol. 1, 143–186 (1971)
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2016 Springer Japan
About this chapter
Cite this chapter
Kita, H. (2016). Research on ABS and Artificial Market. In: Kita, H., Taniguchi, K., Nakajima, Y. (eds) Realistic Simulation of Financial Markets. Evolutionary Economics and Social Complexity Science, vol 4. Springer, Tokyo. https://doi.org/10.1007/978-4-431-55057-0_2
Download citation
DOI: https://doi.org/10.1007/978-4-431-55057-0_2
Published:
Publisher Name: Springer, Tokyo
Print ISBN: 978-4-431-55056-3
Online ISBN: 978-4-431-55057-0
eBook Packages: Economics and FinanceEconomics and Finance (R0)