Robot Markets

Just the beginning. Please send me additions and corrections, thanks.

J. A. Carlson, ``The Stability of an Experimental Market with a Supply-Response Lag,'' Southern Economic Journal, vol. 23, 305-321, 1967.

L. Hurwicz, ``The Design of Mechanisms for Resource Allocation,'' American Economic Review, vol. 63, 1-31, 1973.

D. Friedman, ``On the Efficiency of Experimental Double Auction Markets,'' American Economic Review, vol. 74, pp. 60-72, 1984.

J. H. Holland and J. H. Miller, ``Artificial Adaptive Agents in Economic Theory,'' AEA Papers and Proceedings, May 1991, pp. 365-370.

C. A. Waldspurger, T. Hogg, B. A. Huberman, J. O. Kephart, and W. S. Stornetta, ``Spawn: A Distributed Computational Economy,'' IEEE Transactions on Software Engineering, vol. 18, pp. 103-117, 1992.

B. A. Huberman and T. Hogg, ``The Emergence of Computational Ecologies,'' Santa Fe Institute Lectures in Complex Systems, 1992.

K. Steiglitz, M. L. Honig, and L. M. Cohen, ``A Computational Market Model Based on Individual Action,'' Economic Science Association Fall Meeting, October 21-23, Tucson, Arizona, 1993; also Chapter 1 in Market-Based Control: A Paradigm for Distributed Resource Allocation, Scott Clearwater (ed.), World Scientific, Hong Kong, 1996.

G. Caginalp and D. Balenovich, ``Market Oscillations Induced by the Competition Between Value-Based and Trend-Based Investment Strategies,'' Economic Science Association Fall Meeting, October 21-23, Tucson, Arizona, 1993.

M. Youssefmir, B. A. Huberman, and T. Hogg, ``Bubbles and Market Crashes,'' Dynamics of Computation Group, Xerox Palo Alto Research Center, Palo Alto, CA, 1994.

W. B. Arthur, J. H. Holland, B. LeBaron, R. G. Palmer, and P. Tayler, ``Asset Pricing Under Endogenous Expectations in an Artificial Stock Market,'' Santa Fe Institute, 1996.

K. Steiglitz and D. Shapiro, ``Simulating the Madness of Crowds: Price Bubbles in an Auction-Mediated Robot Market,'' Fall Meeting of the Economic Science Association, Tucson, Arizona, Oct. 1996; also Computational Economics, vol. 12, pp. 35-59, 1998.

K. Steiglitz and L. I. O'Callighan, ``Microsimulation of Markets and Endogenous Price Bubbles,'' Third Int. Conf. on Computing in Economics and Finance, Stanford, CA, June 30-July 2, 1997.