Effects of tobin taxes in minority game markets

Bianconi, Ginestra; Galla, Tobias; Marsili, Matteo; Pin, Paolo

[journal article]

dc.contributor.author	Bianconi, Ginestra	de
dc.contributor.author	Galla, Tobias	de
dc.contributor.author	Marsili, Matteo	de
dc.contributor.author	Pin, Paolo	de
dc.date.accessioned	2012-04-17T02:52:00Z	de
dc.date.accessioned	2012-08-30T06:52:59Z
dc.date.available	2012-08-30T06:52:59Z
dc.date.issued	2009	de
dc.identifier.uri	http://www.ssoar.info/ssoar/handle/document/29213
dc.description.abstract	We show that the introduction of Tobin taxes in agent-based models of currency markets can lead to a reduction of both speculative trading and the magnitude of exchange rate fluctuations at intermediate tax rates. In this regime revenues obtained from speculators are maximal for the institutions acting as market makers. We here focus on minority game models of markets, which are accessible by exact techniques from statistical mechanics. Results are supported by computer simulations. Our findings suggest that at finite systems sizes the effect is most pronounced in a critical region around the phase transition of the infinite system, but much weaker if the market is operating far from criticality and does not exhibit anomalous fluctuations.	en
dc.language	en	de
dc.subject.ddc	Wirtschaft	de
dc.subject.ddc	Sozialwissenschaften, Soziologie	de
dc.subject.ddc	Social sciences, sociology, anthropology	en
dc.subject.ddc	Economics	en
dc.title	Effects of tobin taxes in minority game markets	en
dc.description.review	begutachtet (peer reviewed)	de
dc.description.review	peer reviewed	en
dc.source.journal	Journal of Economic Behavior & Organization	de
dc.source.volume	70	de
dc.source.issue	1-2	de
dc.subject.classoz	Erhebungstechniken und Analysetechniken der Sozialwissenschaften	de
dc.subject.classoz	National Economy	en
dc.subject.classoz	Methods and Techniques of Data Collection and Data Analysis, Statistical Methods, Computer Methods	en
dc.subject.classoz	Volkswirtschaftstheorie	de
dc.identifier.urn	urn:nbn:de:0168-ssoar-292137	de
dc.date.modified	2012-04-17T08:45:00Z	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	en
ssoar.gesis.collection	SOLIS;ADIS	de
ssoar.contributor.institution	http://www.peerproject.eu/	de
internal.status	3	de
dc.type.stock	article	de
dc.type.document	journal article	en
dc.type.document	Zeitschriftenartikel	de
dc.rights.copyright	f	de
dc.source.pageinfo	231-240
internal.identifier.classoz	1090301
internal.identifier.classoz	10105
internal.identifier.journal	196	de
internal.identifier.document	32
internal.identifier.ddc	300
internal.identifier.ddc	330
dc.identifier.doi	https://doi.org/10.1016/j.jebo.2008.10.009	de
dc.description.pubstatus	Postprint	en
dc.description.pubstatus	Postprint	de
internal.identifier.licence	7
internal.identifier.pubstatus	2
internal.identifier.review	1
internal.check.abstractlanguageharmonizer	CERTAIN
internal.check.languageharmonizer	CERTAIN_RETAINED

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Erhebungstechniken und Analysetechniken der Sozialwissenschaften
Methods and Techniques of Data Collection and Data Analysis, Statistical Methods, Computer Methods
Volkswirtschaftstheorie
Economic Theory

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