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We also maintain a curated database of over 7500 publications of agent-based and individual based models with additional detailed metadata on availability of code and bibliometric information on the landscape of ABM/IBM publications that we welcome you to explore.
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This paper investigates the impact of agents' trading decisions on market liquidity and transactional efficiency in markets for illiquid (hard-to-trade) assets. Drawing on a unique order book dataset from the fine wine exchange Liv-ex, we offer novel insights into liquidity dynamics in illiquid markets. Using an agent-based framework, we assess the adequacy of conventional liquidity measures in capturing market liquidity and transactional efficiency. Our main findings reveal that conventional liquidity measures, such as the number of bids, asks, new bids and new asks, may not accurately represent overall transactional efficiency. Instead, volume (measured by the number of trades) and relative spread measures may be more appropriate indicators of liquidity within the context of illiquid markets. Furthermore, our simulations demonstrate that a greater number of traders participating in the market correlates with an increased efficiency in trade execution, while wider trader-set margins may decrease the transactional efficiency. Interestingly, the trading period of the agents appears to have a significant impact on trade execution. This suggests that granting market participants additional time for trading (for example, through the support of automated trading systems) can enhance transactional efficiency within illiquid markets. These insights offer practical implications for market participants and policymakers aiming to optimise market functioning and liquidity.
CoDMER v. 2.0 was parameterized with ethnographic data from organizations dealing with prescribed fire and seeding native plants, to advance theory on how collective decisions emerge in ecological restoration.
This model aims to investigate how different type of learning (social system) and disturbance specific attributes (ecological system) influence adoption of treatment strategies to treat the effects of ecological disturbances.
Status-power dynamics on a playground, resulting in a status landscape with a gender status gap. Causal: individual (beauty, kindness, power), binary (rough-and-tumble; has-been-nice) or prior popularity (status). Cultural: acceptability of fighting.
This agent-based model simulates the lifecycle, movement, and satisfaction of teachers within an urban educational system composed of multiple universities and schools. Each teacher agent transitions through several possible roles: newcomer, university student, unemployed graduate, and employed teacher. Teachers’ pathways are shaped by spatial configuration, institutional capacities, individual characteristics, and dynamic interactions with schools and universities. Universities are assigned spatial locations with a controllable level of centralization and are characterized by academic ratings, capacity, and alumni records. Schools are distributed throughout the city, each with a limited number of vacancies, hiring requirements, and offered salaries. Teachers apply to universities based on the alignment of their personal academic profiles with institutional ratings, pursue studies, and upon graduation become candidates for employment at schools.
The employment process is driven by a decentralized matching of teacher expectations and school offers, taking into account factors such as salary, proximity, and peer similarity. Teachers’ satisfaction evolves over time, reflecting both institutional characteristics and the composition of their colleagues; low satisfaction may prompt teachers to transfer between schools within their mobility radius. Mortality and teacher attrition further shape workforce dynamics, leading to continuous recruitment of newcomers to maintain a stable population. The model tracks university reputation through the academic performance and number of alumni, and visualizes key metrics including teacher status distribution, school staffing, university alumni counts, and overall satisfaction. This structure enables the exploration of policy interventions, hiring and training strategies, and the impact of spatial and institutional design on the allocation, retention, and happiness of urban educational staff.
The SimPioN model aims to abstractly reproduce and experiment with the conditions under which a path-dependent process may lead to a (structural) network lock-in in interorganisational networks.
Path dependence theory is constructed around a process argumentation regarding three main elements: a situation of (at least) initially non-ergodic (unpredictable with regard to outcome) starting conditions in a social setting; these become reinforced by the workings of (at least) one positive feedback mechanism that increasingly reduces the scope of conceivable alternative choices; and that process finally results in a situation of lock-in, where any alternatives outside the already adopted options become essentially impossible or too costly to pursue despite (ostensibly) better options theoretically being available.
The purpose of SimPioN is to advance our understanding of lock-ins arising in interorganisational networks based on the network dynamics involving the mechanism of social capital. This mechanism and the lock-ins it may drive have been shown above to produce problematic consequences for firms in terms of a loss of organisational autonomy and strategic flexibility, especially in high-tech knowledge-intensive industries that rely heavily on network organising.
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This model studies the effect of the agents’ adaptive expectation on cooperation frequency in the prisoner’s dilemma game in complex networks from an agent based approach. The model is implemented in Repast simphony 1.2.
This model introduces individual bias to the model of exploration and exploitation, simulates knowledge diffusion within organizations, aiming to investigate the effect of individual bias and other related factors on organizational objectivity.
A proof-of-concept agent-based model ‘SimDrink’, which simulates a population of 18-25 year old heavy alcohol drinkers on a night out in Melbourne to provide a means for conducting policy experiments to inform policy decisions.
The model that simulates the dynamic creation and maintenance of knowledge-based formations such as communities of scientists, fashion movements, and subcultures. The model’s environment is a spatial one, representing not geographical space, but a “knowledge space” in which each point is a different collection of knowledge elements. Agents moving through this space represent people’s differing and changing knowledge and beliefs. The agents have only very simple behaviors: If they are “lonely,” that is, far from a local concentration of agents, they move toward the crowd; if they are crowded, they move away.
Running the model shows that the initial uniform random distribution of agents separates into “clumps,” in which some agents are central and others are distributed around them. The central agents are crowded, and so move. In doing so, they shift the centroid of the clump slightly and may make other agents either crowded or lonely, and they too will move. Thus, the clump of agents, although remaining together for long durations (as measured in time steps), drifts across the view. Lonely agents move toward the clump, sometimes joining it and sometimes continuing to trail behind it. The clumps never merge.
The model is written in NetLogo (v6). It is used as a demonstration of agent-based modelling in Gilbert, N. (2008) Agent-Based Models (Quantitative Applications in the Social Sciences). Sage Publications, Inc. and described in detail in Gilbert, N. (2007) “A generic model of collectivities,” Cybernetics and Systems. European Meeting on Cybernetic Science and Systems Research, 38(7), pp. 695–706.
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