Extremely localized interaction in a market model

Kazuto Sasai; Yukio Pegio Gunji; Tetsuo Kinoshita

doi:10.1007/s10015-016-0334-1

Extremely localized interaction in a market model

Kazuto Sasai^*, Yukio Pegio Gunji, Tetsuo Kinoshita

^*Corresponding author for this work

School of Fundamental Science and Engineering

Research output: Contribution to journal › Article › peer-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 language	English
Pages (from-to)	125-129
Number of pages	5
Journal	Artificial Life and Robotics
Volume	22
Issue number	1
DOIs	https://doi.org/10.1007/s10015-016-0334-1
Publication status	Published - 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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10.1007/s10015-016-0334-1

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title = "Extremely localized interaction in a market model",

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.",

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AU - Sasai, Kazuto

AU - Gunji, Yukio Pegio

AU - Kinoshita, Tetsuo

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N2 - 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.

AB - 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.

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KW - Localized interaction

KW - Market model

KW - Power-law

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Extremely localized interaction in a market model

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Keywords

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