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]

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