Computerized Double-Auction Markets: Some Initial Experimental Results

1980 ◽  
Vol 53 (3) ◽  
pp. 235 ◽  
Author(s):  
Arlington W. Williams
Keyword(s):  
Experimental Results ◽  
Double Auction ◽  
Auction Markets

Minimal Intelligence Agents in Double Auction Markets with Speculators

2011 ◽  
pp. 79-98
Author(s):  
Senlin Wu ◽  
Siddhartha Bhattacharyya
Keyword(s):  
Market Efficiency ◽  
Double Auction ◽  
Sufficient Condition ◽  
Agent Based Model ◽  
Market Conditions ◽  
Market Prices ◽  
Auction Markets ◽  
Agent Based ◽  
Auction Market

This chapter explores the minimal intelligence conditions for traders in a general double auction market with speculation activities. Using an agent-based model, it is shown that when traders and speculators play together under general market curve settings, zero-intelligent plus (ZIP) is still a sufficient condition for market prices to converge to the equilibrium. At the same time, market efficiency is lowered as the number of speculators increase. The experiments demonstrate that the equilibrium of a double auction market is an interactive result of the intelligence of the traders and other factors such as the type of the players and market conditions. This research fills in an important gap in the literature, and strengthens Cliff and Bruten’s (1997) declaration that zero is not enough for a double auction market.

scholarly journals PRICE DYNAMICS, INFORMATIONAL EFFICIENCY, AND WEALTH DISTRIBUTION IN CONTINUOUS DOUBLE-AUCTION MARKETS

2007 ◽  
Vol 23 (2) ◽  
pp. 176-196 ◽  
Author(s):  
Javier Gil-Bazo ◽  
David Moreno ◽  
Mikel Tapia
Keyword(s):  
Wealth Distribution ◽  
Double Auction ◽  
Price Dynamics ◽  
Informational Efficiency ◽  
Auction Markets ◽  
Continuous Double Auction

scholarly journals On the effects of competition between agent-based double auction markets

2014 ◽  
Vol 13 (4) ◽  
pp. 229-242 ◽  
Author(s):  
Kai Cai ◽  
Jinzhong Niu ◽  
Simon Parsons
Keyword(s):  
Double Auction ◽  
Auction Markets ◽  
Agent Based

scholarly journals Emergence of Cooperative Long-Term Market Loyalty in Double Auction Markets

PLoS ONE ◽  
2016 ◽  
Vol 11 (4) ◽  
pp. e0154606 ◽  
Author(s):  
Aleksandra Alorić ◽  
Peter Sollich ◽  
Peter McBurney ◽  
Tobias Galla
Keyword(s):  
Double Auction ◽  
Auction Markets
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