Re: [Swarmfest2006] Keynote speakers

[Marcus G. Daniels]

Pietro Terna wrote:
>          But how can you obtain results like that of [examples removed]
To bring the topic back to the purpose of this list, and, say, having 
Doyne speak on behalf of ABM or not:  His recent work uses very simple 
dynamical models with little or no internal state.   That's because 
prices are not driven by the diversity of elaborate strategies, but 
rather what they have in common:  greed, fear, and the market mechanism 
(the orderbook).  Implementing many paranoid greedy agents (hiding their 
extent of their inventories, for example), doesn't really require ABM in 
the sense of heavyweight Swarm-like models.  Drawing from probability 
distributions is enough.    So I think in some sense if Doyne were to 
speak he'd provide a skeptical view for appropriate use of ABM (which 
might  actually be good).    Note the title of the Farmer/Patelli/Zovko 
paper:  Zero intelligence.  That wasn't ABM work..