A System for Representing and Using Real-World Knowledge

This report describes a knowledge-base system in which the information is stored in a network of small parallel processing elements ??de and link units ??ich are controlled by an external serial computer. This network is similar to the semantic network system of Quillian, but is much more tightly controlled. Such a network can perform certain critical deductions and searches very quickly; it avoids many of the problems of current systems, which must use complex heuristics to limit and guided their searches. It is argued (with examples) that the key operation in a knowledge-base system is the intersection of large explicit and semi-explicit sets. The parallel network system does this in a small, essentially constant number of cycles; a serial machine takes time proportional to the size of the sets, except in special cases.

Information Dissemination and Aggregation in Asset Markets with Simple Intelligent Traders

Various studies of asset markets have shown that traders are capable of learning and transmitting information through prices in many situations. In this paper we replace human traders with intelligent software agents in a series of simulated markets. Using these simple learning agents, we are able to replicate several features of the experiments with human subjects, regarding (1) dissemination of information from informed to uninformed traders, and (2) aggregation of information spread over different traders.