Much of my market design philosophy stems from a desire to understand the impact of agent interactions and group learning dynamics in a financial setting. While agent-based markets have many goals, I see their first scientific use as a tool for understanding the dynamics in relatively traditional economic models. It is these models for which economists often invoke the heroic assumption of convergence to rational expectations equilibrium where agents’ beliefs and behavior have converged to a self-consistent world view. Obviously, this would be a nice place to get to, but the dynamics of this journey are rarely spelled out. Given that financial markets appear to.
