An Evening of Econophysics:
Emergence of Cooperative Long-term Market Loyalty in Double Auction Markets
IOP, 80 Portland Place, London
16 May (19:00)
Organised by the IOP Nonlinear and Complex Physics Group
Loyal buyer-seller relationships often arise when a seller tailors a product to a specific market niche to accomplish the best possible returns, and when buyers respond to the dedicated efforts of the seller to meet their needs.
We ask whether it is possible, instead, for loyalty to arise spontaneously, and in particular as a consequence of repeated interaction and coadaptation among the agents in a market. We devise a stylized model of
double auction markets and adaptive traders in which traders choose where and how to trade (to buy or to sell) based on their previous experience and characterize the emergent market behaviours.
If you would like to attend then please contact Emma Suckling at firstname.lastname@example.org .