ساخت مدل بازار سهام مصنوعی بر اساس پژوهش

This paper introduces the major function, system framework, running mechanism and core modules of JASA, an open source auction simulator software. Then it builds a new multi-agent artificial stock market modeling platform, named JASA+ by extending, improving JASA, and adding stock market normal quotas, price limits, stock traders, bid-ask strategies and graphic reports. It studies the effects of price limits on stock market via JASA+ platform. The experimental results demonstrate that with in some extent the price limit policy could improve the market efficiency and return, and reduce the bid-ask spread. JASA+ can simulate true stock market preferably, being different from SFI-ASM, a traditional research tool. JASA+ gives researchers a new thought and method in finance markets.