This paper demonstrates the potential role of autonomous agents in economic theory. We first dispatch autonomous agents, built by genetic programming, to double auction markets. We then study the bargaining strategies discovered by them, and from there an autonomous-agent-inspired economic...

This paper studies the behavior of price discovery within a context of an agent based stock market in which the twin assumptions namely, rational expectations and the representative agents normally made in mainstream economics, are removed. In this model, traders stochastically update their...

In this paper, we will give a review on the development of artificial adaptive economic agents in evolutionary economics. The review starts from a 1986 paper by Robert Lucas, a Nobel Prize laureate in economics. From there, we shall see how the idea of economic adaptive agents was enriched and...

The relationship between competitiveness and market performance has been discussed for a long time. In a competitive economic environment, each firm or individual is unable to influence the market. It has been mentioned in the economics courses that the competitive market is more efficient and...

This paper presents and formalizes the Market Fraction Hypothesis (MFH), and also tests it under empirical datasets. The MFH states that the fraction of the different types of trading strategies that exist in a financial market changes (swings) over time. However, while such swinging has been...