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Chapter 27 Market Design Using Agent-Based Models
[chapter]
2006
Handbook of Computational Economics
This chapter explores the state of the emerging practice of designing markets by the use of agent-based modeling, with special reference to electricity markets and computerized (on-line) markets, perhaps including real-life electronic agents as well as human traders. The paper first reviews the use of evolutionary and agent-based techniques of analyzing market behaviors and market mechanisms, and economic models of learning, comparing genetic algorithms with reinforcement learning. Ideal design
doi:10.1016/s1574-0021(05)02027-7
fatcat:lq62vglu7jg5dbbej4l2miavxe