Intermittent chaos in a model of financial markets with heterogeneous agents
arXiv:nlin/0312065 · doi:10.1016/S0960-0779(03)00386-2
Abstract
In this paper we study the price dynamics in a simple model of financial markets with heterogeneous agents. We concentrate on how increases in the total number of active traders influences fluctuations of asset prices. We find that a curious route to chaos is observed when the total number of [active traders] increases. Particularly, we show that {\it intermittent chaos} [1] of price fluctuations is observed as the total number of trader increases.
8 papges, 2 figures (gif files)