|1999/02||LEM Working Paper Series|
Modeling a Decentralized Asset Market: An Introduction to the Financial "Toy-Room"
| Chiaromonte F. and G. Dosi |
In this paper, we describe a micro-founded simulation enviroment for decentralized trade in financial asset. Within the philosophy of computer simulated "artificial markets", this enviroments allows one to experiment in a modular fashion with (i) individual characterizations in terms of behaviors and learning, (ii) different architectural and institutional traits of the market, and (iii) time-embedding of events at the system and the individual level.
Previous versions appeared as IIASA Interim Reports [IIASA, Laxemburg, Austria]