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.