About: Transaction costs influence on the stability of financial market: agent-based simulation

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An Entity of Type : http://linked.opendata.cz/ontology/domain/vavai/Vysledek, within Data Space : linked.opendata.cz associated with source document(s)

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
Description	We implement an agent-based simulation of financial market model. Agent-based simulations are used nowadays as an alternative to the traditional models, based on predetermined equilibrium state theory. Agent technology brings some kind of local intelligence and rational expectations to the decision support system of financial market participants. Agents follow technical and fundamental trading rules to determine their speculative investment positions. We consider direct interactions between speculators and they may decide to change their trading behaviour. If a technical trader meets a fundamental trader and they realize that fundamental trading has been more profitable than technical trading in recent past, the probability that the technical trader switches to the fundamental trading rules is relatively high. In particular the influence of transaction costs is studied in this paper. Transaction costs can be increased by the off-market regulation (for example in the form of taxes) on f inancial market stability, by overall volume of trade and other market characteristics. The paper shows a positive impact of suitable transaction costs on the financial market stability in the long run. We implement an agent-based simulation of financial market model. Agent-based simulations are used nowadays as an alternative to the traditional models, based on predetermined equilibrium state theory. Agent technology brings some kind of local intelligence and rational expectations to the decision support system of financial market participants. Agents follow technical and fundamental trading rules to determine their speculative investment positions. We consider direct interactions between speculators and they may decide to change their trading behaviour. If a technical trader meets a fundamental trader and they realize that fundamental trading has been more profitable than technical trading in recent past, the probability that the technical trader switches to the fundamental trading rules is relatively high. In particular the influence of transaction costs is studied in this paper. Transaction costs can be increased by the off-market regulation (for example in the form of taxes) on f inancial market stability, by overall volume of trade and other market characteristics. The paper shows a positive impact of suitable transaction costs on the financial market stability in the long run. (en)
Title	Transaction costs influence on the stability of financial market: agent-based simulation Transaction costs influence on the stability of financial market: agent-based simulation (en)
skos:prefLabel	Transaction costs influence on the stability of financial market: agent-based simulation Transaction costs influence on the stability of financial market: agent-based simulation (en)
skos:notation	RIV/47813059:19520/13:#0002294!RIV14-MSM-19520___
http://linked.open...avai/predkladatel	Obchodně podnikatelská fakulta v Karviné
http://linked.open...avai/riv/aktivita	S
http://linked.open...avai/riv/aktivity	S
http://linked.open...iv/cisloPeriodika	1
http://linked.open...vai/riv/dodaniDat	2014
http://linked.open...aciTvurceVysledku	Šperka, Roman Spišák, Marek
http://linked.open.../riv/druhVysledku	J - Článek v odborném periodiku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Slezská univerzita v Opavě / Obchodně podnikatelská fakulta v Karviné
http://linked.open...dnocenehoVysledku	111531
http://linked.open...ai/riv/idVysledku	RIV/47813059:19520/13:#0002294
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	agent-based; financial market; NetLogo; direct interactions; technical and fundamental analysis; simulation; Tobin tax (en)
http://linked.open.../riv/klicoveSlovo	Tobin tax agent-based direct interactions technical and fundamental analysis NetLogo financial market simulation
http://linked.open...odStatuVydavatele	GB - Spojené království Velké Británie a Severního Irska
http://linked.open...ontrolniKodProRIV	[9929BE8956D0]
http://linked.open...i/riv/nazevZdroje	Journal of Business Economics and Management
http://linked.open...in/vavai/riv/obor	IN
http://linked.open...ichTvurcuVysledku	2 (xsd:int)
http://linked.open...cetTvurcuVysledku	2 (xsd:int)
http://linked.open...UplatneniVysledku	2013
http://linked.open...v/svazekPeriodika	14
http://linked.open...iv/tvurceVysledku	SPIŠÁK, Marek ŠPERKA, Roman
http://linked.open...ain/vavai/riv/wos	000329161500001
issn	2029-4433
number of pages	12 (xsd:int)
http://bibframe.org/vocab/doi	10.3846/16111699.2012.701227
http://localhost/t...ganizacniJednotka	19520

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