A behavioral approach of the dynamics of financial markets

摘要

We introduce a non-linear dynamic deterministic multistocks multi-agents model. The model can be viewed as the centre of a decision support system in managing financial portfolios, that would allow the decision maker to formalize, test and analyze the impacts of strategies on a market. It takes into account explicitly the perceptions, strategies and decisions of actors and their actions on a market. This approach attempts to model the decision process of interacting agents and so furnishes a tool for decision making in order to analyze the impacts of various strategies of actors on a market. Even in this simple model, the non-linear interactions can drive the system to sudden and unexpected effects which shows the importance of the attempt of the understanding of the dynamics.