The Ninth Week: July 10 - July 14

During the ninth week, we spent some time looking at the algorithm with which the Cliff/Bruten agents updated their prices after having selected a new target price. Their method incorporated elements of the Widrow-Hoff rule and a momentum rule. We investigated using a slightly simplified rule (combining several steps into one) and found that the results that the agents obtained with the new rule were similar to those obtained with the old one.