Presentation	2002/1/2 Analysis of Development of Market Complexity in an Artificial Market Kiyosi IZUMI,
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Abstract(in English)	In this study we rethought efficient market hypothesis from a viewpoint of complexity of market participants' prediction methods and market price's dynamics, and examined the hypothesis using simulation results of our artificial market model. As a result, we found the two difference from the hypothesis. (a) Complexity of markets was not fixed, but changed with complexity of agents. (b) When agents increased the complexity of their prediction methods, structure of dynamic patterns of market price didn't disappear, but it can't be described by equation of any dimensions.
Keyword(in Japanese)	(See Japanese page)
Keyword(in English)	Artificial Market / Complexity / Efficient Market Hypothesis / Financial Market / Correlation Dimension Analysis
Paper #	2001-AI-64
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Conference Information
Committee	AI
Conference Date	2002/1/2(1days)
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Paper Information
Registration To	Artificial Intelligence and Knowledge-Based Processing (AI)
Language	ENG
Title (in Japanese)	(See Japanese page)
Sub Title (in Japanese)	(See Japanese page)
Title (in English)	Analysis of Development of Market Complexity in an Artificial Market
Sub Title (in English)
Keyword(1)	Artificial Market
Keyword(2)	Complexity
Keyword(3)	Efficient Market Hypothesis
Keyword(4)	Financial Market
Keyword(5)	Correlation Dimension Analysis
1st Author's Name	Kiyosi IZUMI
1st Author's Affiliation	Cyber Assist Research Center, AIST and PREST, JST()
Date	2002/1/2
Paper #	2001-AI-64
Volume (vol)	vol.101
Number (no)	535
Page	pp.pp.-
#Pages	8
Date of Issue