A New Agent-Based Artificial Stock Market with Short-Term Dynamics

Agent-based computational finance is attracting significant interest in many disciplines. But most artificial stock markets (ASM) was built in a complex manner and not suited for studying the short-term dynamics of stock market. This activated us to build a new model different from literatures in three main parts of designing an artificial stock market: economic environment, agent´s behavior and price formation. The results of simulation show that our model can reproduce the stylized facts of short-term dynamics.