stock market dynamics created by interacting agents股市动态创建的代理进行交互.pdfVIP

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stock market dynamics created by interacting agents股市动态创建的代理进行交互.pdf

stock market dynamics created by interacting agents股市动态创建的代理进行交互

STOCK MARKET DYNAMICS CREATED BY INTERACTING AGENTS MOHAMED RIAD REMITA AND KARL-THEODOR EISELE Received 19 March 2004; Revised 26 September 2005; Accepted 26 September 2005 We study a stock market model, consisting in a large number of agents, going even- tually to infinity, and evaluate the stock price under the influence of opinions of dif- ferent agents. Next we study the behavior of prices when the market is very nervous; there appear discontinuities (phase transitions) which can be interpreted as stock market crashes. Copyright © 2006 M. R. Remita and K.-T. Eisele.

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