Phase Transition in a Bounded Rational Speculative and Hedging Model

The authors create an economic model of two interacting markets with bounded rational agents that exhibits emergence of market preference arising from a broken market-exchange symmetry. Such emergence can cause agents to move money from one market into the other, resulting in a market crash in certain scenarios. The market-exchange symmetry, and its breaking, gives a statistical mechanics perspective to the ideas of the Sonnenschein-Mantel-Debreu theorem.

Über den Autor / die Autorin

Michael Campbell is a freelance researcher working in econophysics and artificial intelligence. He also works for Aurislink as a founding member, and judges wine for the Orange County Fair each summer. David Carfi is a math professor at the University of Messina, a visiting researcher at the University of California Riverside, and a pianist.

Produktdetails

• Autoren: Michae Campbell, Michael Campbell, David Carfì
• Verlag: LAP Lambert Academic Publishing
• Sprache: Englisch
• Produktform: Taschenbuch
• Erschienen: 30.08.2017
• EAN: 9786202004671
• ISBN: 9786202004671
• Seiten: 128
• Thema: Sozialwissenschaften, Recht,Wirtschaft > Wirtschaft > Sonstiges