The Effect on the Price Formation in the Differences of Agent's Sensitivity on the Market Information

DOI

Bibliographic Information

Other Title
  • エージェントの市場情報への感度の差異が価格形成に及ぼす影響に関する考察

Abstract

In the experiment of price formation using the double auction in experimental economics, the results are often affected by the environmental factors such as the number of experiments and the characteristics of subjects. It can be assumed that the differences of the decision-making processes for every subject cause the phenomenon. However, since it was difficult to conduct the experiments under controlling of the differences completely, the causal relationship has never been treated experimentally. When the difference in the sensitivities as the market prices reference ranges is modeled, we realize the effect on the market information. This paper describes that such agents can simulate the phenomena observed in many experiments. The influence which the differences in the sensitivities have on price formation is also considered.

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Details 詳細情報について

  • CRID
    1390001205708878592
  • NII Article ID
    130005049554
  • DOI
    10.11497/jasmin.2013s.0.286.0
  • Text Lang
    ja
  • Data Source
    • JaLC
    • CiNii Articles
  • Abstract License Flag
    Disallowed

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