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GIMS-Software for asset market experiments.

Stefan Palan1

  • 1Department of Banking & Finance, University of Innsbruck, Austria.

Journal of Behavioral and Experimental Finance
|November 4, 2015
PubMed
Summary

Researchers need experimental market software for financial and economic studies. This article outlines requirements, reviews current options, and introduces GIMS, an open-source, user-friendly, and extensible solution.

Area of Science:

  • Financial economics
  • Computational economics
  • Economic modeling

Background:

  • Experimental market software is crucial for financial and economic research.
  • Existing solutions often lack comprehensive functionality or user-friendliness.
  • There is a need for a flexible and accessible platform for market simulations.

Purpose of the Study:

  • To define the essential requirements for experimental market software.
  • To evaluate the strengths and weaknesses of currently available market software.
  • To introduce GIMS as a novel, open-source solution meeting these requirements.

Main Methods:

  • Literature review of existing market software functionalities.
  • Analysis of requirements for advanced financial and economic research.
Keywords:
Asset marketCall auctionDouble auctionExperimentSoftware

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  • Development and presentation of the GIMS (General Information Management System) software.

    • Main Results:

    • A comprehensive list of requirements for experimental market software has been established.
    • Existing software solutions were analyzed, highlighting their limitations.
    • GIMS, an open-source platform, is presented as a viable alternative.
    • GIMS demonstrates extensibility and ease of use, fulfilling most identified requirements.

    Conclusions:

    • GIMS provides a robust and adaptable platform for financial and economic research.
    • The open-source nature of GIMS encourages community development and wider adoption.
    • GIMS addresses the identified gaps in existing experimental market software.