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    Chapter and Conference Paper

    The Agent-Based Double Auction Markets: 15 Years On

    Novelties discovering as a source of constant change is the essence of economics. However, most economic models do not have the kind of novelties-discovering agents required for constant changes. This silence ...

    Shu-Heng Chen, Chung-Ching Tai in Simulating Interacting Agents and Social Phenomena (2010)

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    Chapter

    Individual Rationality as a Partial Impediment to Market Efficiency

    In this chapter we conduct two experiments within an agent-based double auction market. These two experiments allow us to see the effect of learning and smartness on price dynamics and allocative efficiency. O...

    Shu-Heng Chen, Chung-Ching Tai in Genetic Algorithms and Genetic Programming… (2002)