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Accession number;01A0340277
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| Title;Complexity of Agents and Complexity of Markets. |
| Author;
IZUMI KIYOSHI
(Electrotech. Lab., Agency of Ind. Sci. and Technol.)
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Journal Title;IEIC Technical Report (Institute of Electronics, Information and Communication Engineers)
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Journal Code:S0532B
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ISSN:0913-5685
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VOL.100;NO.529(AI2000 41-55);PAGE.19-24(2001)
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| Figure&Table&Reference;FIG.3, REF.9 |
| Pub. Country;Japan |
| Language;Japanese |
| Abstract;In this study we rethought efficient market hypothesis from a viewpoint of complexity of market participants' prediction methods and market price's dynamics, and examined the hypothesis using simulation results of our artificial market model. As a result, we found the two difference from the hypothesis. (a) Complexity of markets was not fixed, but changed with complexity of agents. (b) When agents increased the complexity of their prediction methods, structure of dynamic patterns of market price didn't disappear, but it can't be described by equation of any dimensions. (author abst.) |
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