The above analysis is from CSS 600 Introduction to Computational Social Sciences class with Dr. Andrew Crooks. In the subsequent semester’s CSS 610 Agent-based Modeling class with Dr. Robert Axtell, I have tried to extend the original model for ZI Plus traders. Here I included a learning rate for the buyers and the sellers for previous transactions.
When I first came across NetLogo models, I assumed all agents activated in the order they were created in. Turns out, they are activated in a random order, by default. NetLogo command for the turtle activation is ask. In MASON, the default activation regime is Uniform distribution. Dr. Kenneth Comer from the Operations Research background, had worked on his PhD for a new activation regime, called Poisson distribution which had most of us in a flux. I then tried to make the idealized rational agents irrational using Axelrod Python Library.
That’s just how heady each class was. For someone who barely knew the different economic belief systems and theories at the beginning of the year, this is pretty fantastic in all its multi-disciplinary glory.
Axtell R.L, Epstein J.M., Dean J.S., et al. (2002) Population growth and collapse in a multiagent model of the Kayenta Anasazi in Long House Valley. Proceedings of the National Academy of Sciences of the United States of America. 99 Suppl 3:7275-7279.
Bagnall, Anthony & Toft, I. & Tj, England. (2004). Zero Intelligence Plus and Gjerstad-Dickhaut Agents for Sealed Bid Auctions.
Gode, D., & Sunder, S. (1993). Allocative Efficiency of Markets with Zero-Intelligence Traders: Market as a Partial Substitute for Individual Rationality. Journal of Political Economy,101(1), 119-137.
Comer, K. W. (2014). Who Goes First? An Examination of the Impact of Activation on Outcome Behavior in Agent-based Models (Doctoral dissertation).
Cliff, D. (1997). Minimal-‐intelligence agents for bargaining behaviours in market-‐based environments. Tech. rep. HP-‐97-‐91, HewleTT-‐Packard Research Laboratories, Bristol, England.
Ladley, D., Bullock, S., (2006) Who to listen to: Exploiting information quality in a zip-agent market. In: La Poutre, H., Sadeh, N. M., S., J. (Eds.), Agent-Mediated Electronic Commerce.Designing Trading Agents and Mechanisms. Springer-Verlag, Berlin, Germany, pp. 200–211
Mark McBride (2008). “Zero-Intelligence Trader Lab”. Miami University.
Masad, David & Kazil, Jacqueline. (2015). Mesa: An Agent-Based Modeling Framework. 51-58. 10.25080/Majora-7b98e3ed-009.