A NASDAQ market simulation [electronic resource] : insights on a major market from the science of complex adaptive systems / Vincent Darley, Alexander V. Outkin.
Includes bibliographical references (pages 145-149) and index.
Summary
This pioneering book describes the applications of agent-based modeling to financial markets. It presents a new paradigm for finance, where markets are treated as complex systems whose behavior emerges as a result of interactions of market participants, market institutions, and market rules. This includes both a presentation of the conceptual model and its software implementation. It also summarises the result of the profound research on the successful practical application of this new approach to answer questions regarding the Nasdaq Stock Market's decimalization that was implemented in 2001.
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