Extremely localized interaction in a market model

Kazuto Sasai, Yukio Gunji, Tetsuo Kinoshita

    Research output: Contribution to journalArticle

    Abstract

    The model of self-organized criticality (SOC) is a useful tool to understand the complexity of natural systems in the form of the artificial life and the artificial market. However, SOC remains the question what guarantees the criticality even though the natural systems seem to keep itself in the critical state. In this paper, we focus on the locality of interaction in zero-intelligence plus (ZIP) model. The extremely localized interaction changes the behavior of the ZIP model from equilibrium to intermittency. Although the original ZIP model falls into unstable with some noise, extremely localized interaction model archives robust intermittency against the noise parameter. Further, the statistical property of intermittent behavior shows the power-law nature.

    Original languageEnglish
    Pages (from-to)1-5
    Number of pages5
    JournalArtificial Life and Robotics
    DOIs
    Publication statusAccepted/In press - 2016 Nov 8

    Keywords

    • Agent-based modeling
    • Localized interaction
    • Market model
    • Power-law

    ASJC Scopus subject areas

    • Biochemistry, Genetics and Molecular Biology(all)
    • Artificial Intelligence

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