Title :
A microscopic price determination process by artificial market experiments with the U-Mart system
Author :
Taniguchi, Kazuhisa
Author_Institution :
Fac. of Econ., Kinki Univ., Higashi-Osaka, Japan
Abstract :
Though the mechanism of a market is the primary concern of economics, it was difficult to analyze it as a consequence of interaction by multi-participants. However, it has become possible to build an artificial virtual market which is constructed by many participants; humans and computer program machines. In this paper, we investigate how to realize the human trader´s action and intention and observe a price determination process in a virtual auction market experiments by using the U-Mart system.
Keywords :
consumer behaviour; electronic commerce; human computer interaction; pricing; U-Mart system; artificial virtual market experiments; computer program machines; human trader action; human trader intention; microscopic price determination process; virtual auction market experiments; Cost accounting; Educational institutions; Humans; Indexes; Microscopy; Stock markets; Artificial market experiments; Continuous double auction; Price determination; U-Mart System;
Conference_Titel :
SICE Annual Conference (SICE), 2011 Proceedings of
Conference_Location :
Tokyo
Print_ISBN :
978-1-4577-0714-8
