<title>Abstract</title> In this paper we propose an artificial stock market model based on interaction of heterogeneous agents whose forward‐looking behaviour is driven by the reinforcement‐learning algorithm combined with some evolutionary selection mechanism. We use the model for the analysis of market...

In this paper we propose an artificial stock market model based on interaction of heterogeneous agents whose forward-looking behaviour is driven by the reinforcement learning algorithm combined with some evolutionary selection mechanism. We use the model for the analysis of market...

<title>Abstract</title> "New economy” is a specific economic phenomenon emerging when two processes including globalization and technological revolution are taking place simultaneously. A question arises what economic and institutional conditions in the states under transition would allow them to take the...

<title>Abstract</title> In recent years, efforts have been made to rank banks according to their reliability. However, the methods used for this purpose are not accurate. The analysis shows that reliability of banks is a complex phenomenon which can only be described by a set of criteria. The task is...

<title>Abstract</title> One of the forms of state intervention in market development is state aid (subsidies) to private sector enterprises. Over the period of 2004--2006, a great part of the EU aid was granted to business in Lithuania through the EU structural funds. State aid is a complicated phenomenon. It...

<title>Abstract</title> The growing competition on the international markets means that the importance of enterprise marketing activities is increasing. However, the attention paid to theoretical and practical marketing problems by enterprises is insufficient. This particularly refers to the analysis of...

The objective of this paper is to introduce the decision-making model for stock markets. The proposed model is based on the study of historic data and the application of Artificial Neural Networks (ANN) and Particle Swarm Optimization (PSO) algorithm. In the proposed decision-making model the...

In this paper we provide a brief introduction to the literature on agent-based financial modelling and, more specifically, artificial stock market modelling. In the selective literature review two broad categories of artificial stock market models are discussed: models based on hard-wired rules...

In this paper we analyse determinants of the recent boom-and-bust cycle of the Lithuanian economy with the help of a medium-sized macroeconometric model that incorporates a functional financial block. Special emphasis is put on the role of credit market conditions during the overheating episode....

Property market maturity level is one of the influential factors affecting competitiveness of a country in a global arena. Local economies of Central and Eastern Europe may have reacted differently to the economic globalisation process, but property markets in these countries became very much...