Recent progress in econophysics: Chaos, leverage, and business cycles as revealed by agent-based modeling and human experiments

doi:10.1007/s11467-017-0696-4

Frontiers of Physics

2017, Vol. 12

Issue (6): 128910 https://doi.org/10.1007/s11467-017-0696-4

本期目录

Recent progress in econophysics: Chaos, leverage, and business cycles as revealed by agent-based modeling and human experiments

Chen Xin(

), Ji-Ping Huang(

)

Department of Physics and State Key Laboratory of Surface Physics, Fudan University, Shanghai 200433, China

全文: PDF(7132 KB)

Abstract：

Agent-based modeling and controlled human experiments serve as two fundamental research methods in the field of econophysics. Agent-based modeling has been in development for over 20 years, but how to design virtual agents with high levels of human-like “intelligence” remains a challenge. On the other hand, experimental econophysics is an emerging field; however, there is a lack of experience and paradigms related to the field. Here, we review some of the most recent research results obtained through the use of these two methods concerning financial problems such as chaos, leverage, and business cycles. We also review the principles behind assessments of agents’ intelligence levels, and some relevant designs for human experiments. The main theme of this review is to show that by combining theory, agent-based modeling, and controlled human experiments, one can garner more reliable and credible results on account of a better verification of theory; accordingly, this way, a wider range of economic and financial problems and phenomena can be studied.

Key words： agent-based modeling controlled human experiment minority game econophysics chaos leverage business cycle

收稿日期: 2016-10-20 出版日期: 2017-09-07

Corresponding Author(s): Chen Xin,Ji-Ping Huang

引用本文:

. [J]. Frontiers of Physics, 2017, 12(6): 128910.
Chen Xin, Ji-Ping Huang. Recent progress in econophysics: Chaos, leverage, and business cycles as revealed by agent-based modeling and human experiments. Front. Phys. , 2017, 12(6): 128910.

链接本文:

https://academic.hep.com.cn/fop/CN/10.1007/s11467-017-0696-4
https://academic.hep.com.cn/fop/CN/Y2017/V12/I6/128910

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