The academic literature has been reluctant to accept technical analysis as a rational strategy of traders in financial markets. In practice traders and analysts heavily use technical analysis to make investment decisions. To resolve this incongruence the aim of this study is to translate...

This paper contains an investigation on a particular kind of non-linear rational expectations equilibrium in financial markets. By adopting an agent based computational finance (ACF) paradigm we will analyze whether using real options theory in financial markets is useful. Do agents who...

According to Alfred Korzybski (1921) humans unlike plants and animals have the property to bind time, i.e. they are able to transfer experience through time. Humans are capable to collenct knowledge from the past and communicate their knowledge to the future. This paper investigates the...

The purpose of the paper is to model the process of rule generation by firms that must allocate their resources between physical assets, training, and R&D, and to study the microeconomic performances as well as the aggregate outcomes. The framework is a complete micro-macroeconomic...

In this paper we discuss the necessity of models including complex adaptive systems in order to eliminate the shortcomings of neoclassical models based on equilibrium theory. A simulation model containing artificial adaptive agents is used to explore the dynamics of a market of highly...