The Human Behavioral Response to Automated Trading

The use of computer algorithms by human traders in markets has been steadily increasing. These electronic agents or proxies vary in terms of purpose and complexity, however, most of them first require some input on the part of the human trader and then perform the rest of the trading task autonomously. This paper proposes a theoretical model of human behavior that can be used to detect behavioral biases in commodity markets populated by humans and electronic proxies. The model's predictions are tested with the help of laboratory experiments with economically-motivated human subjects. Results suggests that the usefulness of automated trading is initially diminished by behavioral biases arising from attitudes towards technology. In some cases, the biases disappear with experience and in others they do not.

PERLINDUNGAN HUKUM BAGI PARA PIHAK DALAM E-COMMERCE SEBAGAI AKIBAT DARI GLOBALISASI EKONOMI.

Globalization's impact on the development of technological advances free trade between countries. through international trade spawned free trade rules and more focus on the development of a free market, quickly in a life without limits. The realization of the consequences of free trade globalization is the emergence of the phenomenon of Electronic Commerce. The research method used is normative juridical. legal research literature is legal research conducted by examining the library materials or secondary data. The results obtained that legal protection for parties in e-commerce as a result of economic globalization include the two sides are in agreement and outside the Agreement, as well as E-Commerce Transactions settings in Act No. 11 of 2008 can be described as the need for the existence of an Institution Certification Reliability to certify to the party who will conduct electronic transactions (Article 10); Setting the implementation of the Electronic Transactions (Article 17 Paragraph (3)); Regulation on Electronic Contract for Electronic Transactions (Article 18 Paragraph (1)); Dispute Resolution on Electronic Transactions (Article 18, Paragraph (3)); Electronic system as a system implementation Electronic Transactions (Article 19); Regulation on Electronic Agents as intermediaries in Electronic Transactions (Article 21 and 22).

Can Electronic Agents Be Granted Legal Personality under Islamic Law? A Conceptual Rethink Is Imperative

Most legislation, whether international or national, deals with electronic agents in a way that does not reflect the certainty of their features. In the past, only a human being could perform the functions that electronic agents do at present. Such electronic agents that are considered ‘Intelligent’ ramble quickly into various places, search for information, and carry out various stages of a transaction from product and merchant brokering through to negotiation, sales, distribution and payment. Nevertheless, legislations have classified them as communication tools. Perhaps such terminology has been chosen because of the lack of difficulty in its implementation or lack of legislation having the legal tools to recognize clearly the acts of electronic agents. In this paper, the concept ‘electronic agent’ is scrutinized and the feasibility of granting them ‘legal personality’ investigated, particularly under Islamic law. In particular, the question is asked: does the concept ‘legal personality’ really exist under Islamic law? If so, then how is it defined? In addition, in light of the definition(s) presented, how can ‘legal personality’ be attributed to electronic agents?