Heterarcical market: Dynamical interplay between time and space in the continuous interaction in a market model

Kazuto Sasai; Yukio Gunji; Tetsuo Kinoshita

doi:10.1063/1.4992543

Heterarcical market: Dynamical interplay between time and space in the continuous interaction in a market model

Kazuto Sasai, Yukio Gunji, Tetsuo Kinoshita

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Abstract

Multi-agent models of robust open systems such as natural systems are the important theme in the literature of systems science. Heterarchy, which means dynamical hierarchy, is a structural model, which includes the dynamical interplay between different levels. However, it is not easy to build a formal model of a heterarchical system because the interplay between different levels lead a self-referential paradox. In this paper, we propose an continuous double auction model, which includes a formal model of conitnuous transaction. We encode the model into a restriction rule of the order submittion. The proposed model shows a critical behavior of the actual markets, and it can have the relationship with the behaviors of natural systems.

Original language	English
Title of host publication	International Conference of Numerical Analysis and Applied Mathematics, ICNAAM 2016
Publisher	American Institute of Physics Inc.
Volume	1863
ISBN (Electronic)	9780735415386
DOIs	https://doi.org/10.1063/1.4992543
Publication status	Published - 2017 Jul 21
Event	International Conference of Numerical Analysis and Applied Mathematics 2016, ICNAAM 2016 - Rhodes, Greece Duration: 2016 Sep 19 → 2016 Sep 25

Other

Other	International Conference of Numerical Analysis and Applied Mathematics 2016, ICNAAM 2016
Country	Greece
City	Rhodes
Period	16/9/19 → 16/9/25

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ASJC Scopus subject areas

Physics and Astronomy(all)

Cite this

Sasai, K., Gunji, Y., & Kinoshita, T. (2017). Heterarcical market: Dynamical interplay between time and space in the continuous interaction in a market model. In International Conference of Numerical Analysis and Applied Mathematics, ICNAAM 2016 (Vol. 1863). [360014] American Institute of Physics Inc.. https://doi.org/10.1063/1.4992543

Heterarcical market : Dynamical interplay between time and space in the continuous interaction in a market model. / Sasai, Kazuto; Gunji, Yukio; Kinoshita, Tetsuo.

International Conference of Numerical Analysis and Applied Mathematics, ICNAAM 2016. Vol. 1863 American Institute of Physics Inc., 2017. 360014.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Sasai, K, Gunji, Y & Kinoshita, T 2017, Heterarcical market: Dynamical interplay between time and space in the continuous interaction in a market model. in International Conference of Numerical Analysis and Applied Mathematics, ICNAAM 2016. vol. 1863, 360014, American Institute of Physics Inc., International Conference of Numerical Analysis and Applied Mathematics 2016, ICNAAM 2016, Rhodes, Greece, 16/9/19. https://doi.org/10.1063/1.4992543

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Access to Document

10.1063/1.4992543