Intermittent chaos in a model of financial markets with heterogeneous agents

In this paper we study the price dynamics in a simple model of financial markets with heterogeneous-agents. We concentrate on how increase in the total number of active traders influences on fluctuations of asset prices. We find that a curious route to chaos is observed when the total number of active traders who participate into trading increases. Particularly we show that intermittent chaos [Berge et al., Order within Chaos, John Wiley and Sons, New York, 1984] of price fluctuations is observed as the total number of trader increases.