There is reliable evidence that simple rules used by traders have some predictive value over the future movement of foreign exchange prices. This paper will review some of this evidence and discuss the economic magnitude of this predictability. The profitability of these trading rules will then...

Both academic and applied researchers studying financial markets and other economic series have become interested in the topic of chaotic dynamics. The possibility of chaos in financial markets opens important questions for both economic theorists as well as financial market participants. This...

We present a new method, inspired by the bootstrap, whose goal it is to determine the quality and reliability of a neural network predictor. Our method leads to more robust forecasting along with a large amount of statistical information on forecast performance that we exploit. We exhibit the...

Partner selection is an important process in many social interactions, permitting individuals to decrease the risks associated with cooperation. In large populations, defectors may escape punishment by roving from partner to partner, but defectors in smaller populations risk social isolation. We...

Agent-based computational economics (ACE) is the computational study of economies modelled as evolving decentralized systems of autonomous interacting agents. A key focus of ACE research is understanding how global regularities arise from the bottom up, through the repeated local interactions of...

Artificial life (alife) is the bottom-up study of basic phenomena commonly associated with living agents, such as self- replication, evolution, adaptation, self-organization, exploitation, competition, cooperation, and social network formation. Alife complements the traditional biological and...

Agent-based computational economics (ACE) is the computational study of economies modeled as evolving systems of autonomous interacting agents. Starting from initial conditions, specified by the modeler, the computational economy evolves over time as its constituent agents repeatedly interact...

Agent-based computational economics (ACE)is the computational study of economies modelled as evolving systems of autonomous interacting agents. This short paper is a brief guide to recent ACE research. For more information, visit the ACE Web site at http://www.econ.iastate.edu/tesfatsi/ace.htm....

In decision theory, incommensurabilities among conflicting decision criteria are typically handled by multicriteria optimization methods such as Pareto efficiency and mean-variance analysis. In econometrics and statistics, where conflicting model criteria replace conflicting decision criteria,...

This study uses an agent-based computational labor market framework to experimentally study the relationship between job capacity, job concentration, and market power. Job capacity is measured by the ratio of potential job openings to potential work offers, and job concentration is measured by...