A Simulation Model of Stock Exchange Trading
Article Abstract:
As various aspects of the auction markets are not accurately represented by mathematical modeling or multivariate statistics, simulation has been increasingly used. Previous simulations have been overly simplified, and while the model presented is not entirely realistic, it is less simplified. To study the effect of stabilization upon profit, it is necessary to separate out other sources of profit. The present model accomplishes this and further allows the examination of other policy issues vis-a-vis the stock market. A run of the model comparing the presence or absence of a stabilizer, and whether or not the stabilizer has knowledge of the limit order book, demonstrated that presence of a stabilizer with knowledge of the limit order book reduced bid-ask spreads and return variances. The model is currently a laboratory model but could, in the future, be developed into an interactive model for training brokers and other market specialists. Diagrams of the yawl distribution for generating limit ask prices, a table summarizing run results, a flowchart of the simulation run program structure, and a glossary of terms are included.
Publication Name: SIMULATION
Subject: Engineering and manufacturing industries
ISSN: 0037-5497
Year: 1983
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Use of Computer Simulation in Oil Spill Response Training
Article Abstract:
A computer-assisted learning program to train On-Scene Commanders (OSC) to deal quickly and effectively with oil spills has been developed. The simulation compresses a forty-eight hour period into four hours and gives the OSC the opportunity to test and develop decision-making skills under time pressured situations. Two main types of scenarios are used: one involves an at-sea spill with potentially long-range consequences, the other involves a spill in a fast-moving river which requires an especially rapid response. Different variables are randomly generated and 'glitches' such as weather problems and equipment breakdowns also are included in the simulation. Material is presented graphically, for the most part, and a screen touch panel is used for trainee ease-of-use. Graphs summarizing trainee performance are generated and given to the trainee for review. Computer-generated maps, trainee performance graphs, and a diagram of the oil spill response organization are presented.
Publication Name: SIMULATION
Subject: Engineering and manufacturing industries
ISSN: 0037-5497
Year: 1983
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