Fraudulent Agents in an Artificial Financial Market
Enrico Scalas (),
Christian Dose and
Marco Raberto ()
Additional contact information
Silvano Cincotti: DIBE, Università di Genova
Christian Dose: DIBE, Università di Genova
A chapter in Nonlinear Dynamics and Heterogeneous Interacting Agents, 2005, pp 317-326 from Springer
Summary The problem of insider trading and other illegal practices in financial markets is an important issue in the field of financial regulatory policies. Market control bodies, such as the US SEC or the Italian CONSOB , regularly perform statistical analyses on security prices in order to unveil clues of fraudulent behaviour within the market. Fraudulent behaviour is connected to the more general problem of information asymmetries, which had already been addressed in the field of experimental economics (see, for instance, refs. [2, 3, 4]). Recently, interesting conclusions were drawn thanks to a computer-simulated market at MIT where agents had different pieces of information about the future dividend cash flow of exchanged securities . In particular, in the MIT simulated market, the intelligent agents can replicate various findings of human-based experiments. Here, by means of an agent-based artificial market: the Genoa Artificial Stock Market (GASM) [6, 7], the more specific problem of fraudulent behavi our in a financial market is studied. A simplified model of fraudulent behaviour is implemented.
Keywords: Financial Market; Central Bank; Stock Price; Information Asymmetry; Equilibrium Price (search for similar items in EconPapers)
References: Add references at CitEc
Citations: Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-540-27296-0_21
Ordering information: This item can be ordered from
Access Statistics for this chapter
More chapters in Lecture Notes in Economics and Mathematical Systems from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().