Artificial Market Experiments with the U-Mart System

Economics went through great development in the 20th century. This development, which was based mainly on mathematical methods, is not an appropriate method of analyzing markets that change every hour and every day. In a stock market, prices constantly change depending on speculation. U-Mart, a manmade market, has been proposed in order to study such instantly moving markets. Although the U-Mart system is internationally acclaimed for being at the forefront of market research, its use is by no means limited to a small number of researchers on the fringe. The whole system, including its source code, is open and is distributed without charge, testifying to a philosophy of creating and providing a common test bed for research into financial markets.

List of contents

Practice.- How to Use the U-Mart Market Simulator.- How to Use the U-Mart System Network Edition.- Futures Market and U-Mart Experiment.- Application.- A Case of U-Mart Experiment by Human Agents.- Statistical Analysis of U-mart Experiments by Humans.- Possibility and Meaning of the U-Mart.

Summary

Economics went through great development in the 20th century. This development, which was based mainly on mathematical methods, is not an appropriate method of analyzing markets that change every hour and every day. In a stock market, prices constantly change depending on speculation. U-Mart, a manmade market, has been proposed in order to study such instantly moving markets. Although the U-Mart system is internationally acclaimed for being at the forefront of market research, its use is by no means limited to a small number of researchers on the fringe. The whole system, including its source code, is open and is distributed without charge, testifying to a philosophy of creating and providing a common test bed for research into financial markets.

Product details

• Authors: Fumihiko Hashimoto, Yuhsuke Koyama, Hi Matsui, Hiroyuki Matsui, Yoshihir Nakajima, Yoshihiro Nakajima, Yoshinor Shiozawa, Yoshinori Shiozawa, Kazuhisa Taniguchi
• Publisher: Springer, Berlin
• Languages: English
• Product format: Paperback / Softback
• Released: 01.01.2014
• EAN: 9784431546894
• ISBN: 978-4-431-54689-4
• No. of pages: 161
• Dimensions: 155 mm x 10 mm x 235 mm
• Weight: 284 g
• Illustrations: XVI, 161 p.
• Series: Agent-Based Social Systems; Agent-Based Social Systems; Springer Series on Agent Based Social Systems
• Subjects: Social sciences, law, business > Business > Management; B, Business, Sociology, Business and Management, Finance, Finance, general, Business and Management, general, Sociology, general, Financial Economics, Management science