CAI, HAIYAN; CHEN, KANG - In: International Journal of Theoretical and Applied … 12 (2009) 02, pp. 251-266
In this paper, we adopt an agent-based approach to model collective market dynamics when interactions between the agents in a market are significant. Our model has two special features. First, social groups are formed in a random cluster process which, we believe, mimics the actual formation of...