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 | |
| 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
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
}
TY - GEN
T1 - Heterarcical market
T2 - Dynamical interplay between time and space in the continuous interaction in a market model
AU - Sasai, Kazuto
AU - Gunji, Yukio
AU - Kinoshita, Tetsuo
PY - 2017/7/21
Y1 - 2017/7/21
N2 - 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.
AB - 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.
UR - http://www.scopus.com/inward/record.url?scp=85026659038&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85026659038&partnerID=8YFLogxK
U2 - 10.1063/1.4992543
DO - 10.1063/1.4992543
M3 - Conference contribution
VL - 1863
BT - International Conference of Numerical Analysis and Applied Mathematics, ICNAAM 2016
PB - American Institute of Physics Inc.
ER -