Abstract
This chapter focuses on building artificial market simulators based on the agent-based modeling approach for evaluating market institutions and trading strategies. Artificial market simulators for evaluating market institutions and trading strategies should meet the following five requirements: (1) high fidelity, (2) high transparency, (3) high reproducibility, (4) high traceability, and (5) high usability. In this chapter, we introduce two types of artificial market simulators that meet the five requirements well, namely, the Itayose U-Mart system (U-Mart system Ver.2) and the Zaraba-based U-Mart system (U-Mart system Ver.4). We also explain how to develop trading agent programs for the Itayose U-Mart system and the Zaraba-based U-Mart system. Furthermore, we show simple experiments and what we can do using the Zaraba-based U-Mart system.
Published Version
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