Extremely localized interaction in a market model

Kazuto Sasai, Yukio Pegio Gunji, Tetsuo Kinoshita

Research output: Contribution to journalArticlepeer-review

1 Citation (Scopus)

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)125-129
Number of pages5
JournalArtificial Life and Robotics
Volume22
Issue number1
DOIs
Publication statusPublished - 2017 Mar 1

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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