Table 2 Parameters and their initial values used in simulations
From: Non-Value-Added Tax to improve market fairness and quality
Parameter | Value | Description |
|---|---|---|
\(N^{FD}\) | 1000 | Number of fundamentalists |
\(N^{HFT}\) | 200 | Number of HFTs |
\(C_{i,0}\) | 20,000 | Initial cash attributed at moment 0 to agent i |
\(S_{i,0}\) | 100 | Number of stocks attributed at moment 0 to agent i |
\(N_{rounds}\) | 1000 | Number of rounds per day |
\(F_0\) | 200.00 | Initial fundamental value |
\(\epsilon _i\) | [-1;1] | Accuracy of fundamental value prediction by the agent i |
\(\gamma _i\) | [0, 0.001] | HF traders’ activation threshold |