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Technical Trading Creates aPrisoner's Dilemma: Resultsfrom an Agent-Based Model

Shareen JoshiJeffrey ParkerMark A. Bedau

SFI WORKING PAPER: 1998-12-115

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time

accumulatedwealth/10^4

0 50000 100000 200000 300000

0

20

60

100

time

%f

undamentalbitsset

240000 260000 280000 300000

0

20

40

60

80

100

time

%t

echnicaltrading

bitsset

240000 260000 280000 300000

0

20

40

60

80

100

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time

accumulatedwealth/10^4

0 50000 100000 200000 300000

0

20

60

100

time

%f

undamentaltradingbitsset

240000 260000 280000 300000

0

20

40

60

80

100

time

%t

echnicaltradingbitsset

240000 260000 280000 300000

0

20

40

60

80

100

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time

accumulatedwealth/10^4

0 50000 100000 200000 300000

0

50

100

150

time

%f

undamentaltradingbitsset

240000 260000 280000 300000

0

20

40

60

80

100

time

%t

echnicaltradingbitsset

240000 260000 280000 300000

0

20

40

60

80

100

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time

accumulatedwealth/10^4

0 50000 100000 200000 300000

0

4

0

80

120

time

%f

undamentaltradingbitsset

240000 260000 280000 300000

40

60

80

100

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