Interaction of Human and Artificial Agents on Double Auction MarketsSimulations and Laboratory Experiments

This paper provides an overview on the simulations andexperiments we have done in order to better understandhuman-agent interaction in a market environment. We findthat the introduction of software agents does not necessarilyinduce a more efficient market. More surprisingly,information on the existence of software agents in themarket environment results in more efficient behavior ofhuman traders.

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Year of publication:	2003-09-01
Authors:	Grossklags, Jens ; Schmidt, Carsten
Institutions:	Max-Planck-Institut für Ökonomik <Jena> / Abteilung Strategische Interaktion
Subject:	Kreditmarkt \| Agency-Theorie \| Interaktion \| Markteffizienz \| Experimentelle Wirtschaftsforschung \| experiment \| Auktionstheorie \| auction

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Extent:	159744 bytes 4 p. application/pdf
Series:	Max-Planck-Institut für Ökonomik - Papers on Strategic Interaction Discussion Paper ; 0322 (2003)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Proceedings of the 3rd InternationalWorkshop on Computational Intelligence in Economics and Finance(CIEF'2003), 7th Joint Conference on Information Science, September 26-30, 2003, North Carolina, USA.
Classification:	Corporate finance and investment policy. Other aspects ; Simulation methods ; Study of commerce ; Management of financial services: stock exchange and bank management science (including saving banks) ; Directories of Lectures and Conference Papers ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005866907