Welfare distribution in double auction trading, comparison of classroom experiment and homogeneous agent based computational model

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F49777513%3A23510%2F13%3A43919115" target="_blank" >RIV/49777513:23510/13:43919115 - isvavai.cz</a>
Result on the web
<a href="http://www.wseas.us/e-library/conferences/2013/Chania/AEBDa/AEBDa-25.pdf" target="_blank" >http://www.wseas.us/e-library/conferences/2013/Chania/AEBDa/AEBDa-25.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Welfare distribution in double auction trading, comparison of classroom experiment and homogeneous agent based computational model
Original language description
This paper compares the welfare distribution in two double-auction markets. The first one is an agent based simulation market with homogeneous agents and the second one is classroom experimental market with the students. The welfare is measured by the surpluses of buyers or sellers according to the partial market analysis via Alfred Marshall. While the agent based simulation shows the normal distribution of surpluses, the classroom experiment shows suspicion of heavy tails. That is why some personal characteristics of the traders can probably play a role in the classroom experiment.
Czech name
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Czech description
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Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
RECENT RESEARCHES in APPLIED ECONOMICS and MANAGEMENT Business Administration and Financial Management - Volume 1
ISBN
978-960-474-323-0
ISSN
2227-460X
e-ISSN
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Number of pages
6
Pages from-to
150-155
Publisher name
WSEAS Press
Place of publication
Chania, Crete Island
Event location
Chania, Crete Island, Greece
Event date
Aug 27, 2013
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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