Abstract

GORDILLO, José Luis  and  STEPHENS, Christopher R.. Analysis of Financial Markets using Artificial Intelligence Techniques. Comp. y Sist. [online]. 2003, vol.6, n.4, pp.253-272. ISSN 2007-9737.

Present day techniques from artificial intelligence (AI), in particular evolutionary algorithms and intelligent agents, can be used to model many different types of system, including financial markets. A computational model of a financial market uses various AI elements, such as evolutionary computation and artificial agents. The result -an artificial financial market (AFM)- can serve as a useful "laboratory" for studying the behavior of real financial markets. In the present work we present a new AFM, designed with the objective of including elements that have been relatively neglected in other models, such as different organizational models for the market and the presence of priviliges participants such as market makers who have the task of providing market liquidity. The results we present in this article include: the effect of different organizational models, of different exploitation of information, the efficiency of different types of adaptation and the presence of market makers. In this latter case we emphasize that the resulting market has a completely autonomous evolution.

Keywords : Artificial Intelligence; Agents; Financial Markets; Evolutionary Algorithms; Market Markers.

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