This paper illustrates the use of the nonparametric Wald-Wolfowitz test to detect stationarity
and ergodicity in agent-based models. A nonparametric test is needed due to the practical …

In this paper we explore how specific aspects of market transparency and agents' behavior
affect the efficiency of the market outcome. In particular, we are interested whether learning …

We analyze trading in a modified continuous double auction market. We study how more or
less information about trading in a prior round affects allocative and informational efficiency …

Intra-day electricity markets are considered as important mechanisms to reconcile short-term
fluctuations of energy production with consumption. This even gains in significance in …

We investigate whether convex incentive contracts are a source of instability of financial
markets as indicated by the results of a continuous double-auction asset market experiment …

This paper investigates the price formation of an artificial futures market with zero-
intelligence traders. It extends the zero-intelligence model to speculative agents trading for …

En este capítulo se presenta el contexto y los propósitos fundamentales de la tesis, sirviendocomobaseparacomprendersurelev…
. Comienza con una sección introductoria que motiva la tesis, explicando la importancia del …

Fast price convergence and high allocative market efficiency (close to 100%) are two of the
most robust results in Experimental Economics. When human-subjects are replaced by …

We studied the influence of convex incentives, eg option-like compensations, on the
behavior of financial markets. Such incentives, usually offered to portfolio managers, have …

This paper studies the continuous double auction from the point of view of market
engineering: we tweak a resampling rule often used for this exchange protocol and search …