Computational Model Library

Displaying 10 of 1197 results

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.

The “Descriptive Norm and Fraud Dynamics” model demonstrates how fraudulent behavior can either proliferate or be contained within non-hierarchical organizations, such as peer networks, through social influence taking the form of a descriptive norm. This model expands on the fraud triangle theory, which posits that an individual must concurrently possess a financial motive, perceive an opportunity, and hold a pro-fraud attitude to engage in fraudulent activities (red agent). In the absence of any of these elements, the individual will act honestly (green agent).

The model explores variations in a descriptive norm mechanism, ranging from local distorted knowledge to global perfect knowledge. In the case of local distorted knowledge, agents primarily rely on information from their first-degree colleagues. This knowledge is often distorted because agents are slow to update their empirical expectations, which are only partially revised after one-to-one interactions. On the other end of the spectrum, local perfect knowledge is achieved by incorporating a secondary source of information into the agents’ decision-making process. Here, accurate information provided by an observer is used to update empirical expectations.

The model shows that the same variation of the descriptive norm mechanism could lead to varying aggregate fraud levels across different fraud categories. Two empirically measured norm sensitivity distributions associated with different fraud categories can be selected into the model to see the different aggregate outcomes.

barterNet

Jon Pearce Justin Rietz | Published Wednesday, January 08, 2025

BarterNet is a platform for modeling early barter networks with the aim of learning how supply and demand for a good determine if traders will learn to use that good as a form of money. Traders use a good as money when they offer to trade for it even if they can’t consume it, but believe that they can subsequently trade it for a good they can consume in the near future.

AGENTS model is an agent-based computational framework designed to explore the socio-ecological and economic dynamics of agricultural production in the Byzantine Negev Highlands, with a focus on viticulture. It integrates historical, environmental, and social factors to simulate settlement sustainability, crop yields, and the impacts of varying climate conditions. The model is built in NetLogo and incorporates GIS-based topographical and hydrological data. Key features include the ability to assess climate impacts on crop profitability and settlement strategies, evaluate economic outputs of ancient vineyards, and simulate agent decision-making processes under diverse scenarios.

The AGENTS model is highly flexible, enabling users to simulate agricultural regimes with any two crops: one cash crop (a crop grown for profit, e.g., grapevines) and one staple crop (a crop grown for subsistence, e.g., wheat). While the default setup models viticulture and wheat cultivation in the Byzantine Negev Highlands, users can adapt the model to different environmental and socio-ecological contexts worldwide—both past and present.

Users can load external files to customize precipitation, evaporation, topography, and labor costs (measured as man-days per 0.1ha, converted to kg of wheat per model patch size area), and can also edit key parameters related to yield calculations. This includes modifying crop-specific yield formulas, soil and runoff indices, and any factors influencing crop performance. The model inherently simulates cash crops grown in floodplain regions and staple crops cultivated along riverbanks, providing a powerful tool to investigate societal resilience and responses to climate stressors across diverse environments.

This repository contains an agent-based simulation model exploring how status hierarchies influence the emergence and sustainability of cooperation in task-oriented groups. The model builds on evolutionary game theory to examine the dynamics of cooperation under single-leader and multi-leader hierarchies, investigating factors such as group size, assortativity, and hierarchical clarity. Key findings highlight the trade-offs between different leadership structures in fostering group cooperation and reveal the conditions under which cooperation is most stable.

The repository includes code for simulations, numerical analysis scripts, and visualization tools to replicate the results presented in the manuscript titled “Status hierarchies and the emergence of cooperation in task groups.”

Feel free to explore, reproduce the findings, or adapt the model for further research!

Gini Palma microsimulation

Edgar Oliveira | Published Wednesday, December 11, 2024

The model is a microsimulation, where the agents don’t Interact with each other. It simulates income distribution, unemployment dynamics, education, and Family grant in Brazil, focusing on the impact on social inequality. It tracks the indicators Gini index, Lorenz curve, and Palma ratio. The objective is to explore how these factors influence wealth distribution and social inequality over time.
This work was developed in partnership with the Graduate Program in Computational Modeling, in the Universidade Federal do Rio Grande - FURG, in Brazil.

GoodBYE: BadYear Econometrics

Colin Wren Iza Romanowska | Published Thursday, December 26, 2024

A formalized implementation of Halstead and O’Shea’s Bad Year Economics. The agent population uses one of four resilience strategies in an attempt to cope with a dynamic environment of stresses and shocks.

Residents planned behaviour of waste sorting to explore urban situations

Jonathan Edgardo Cohen | Published Wednesday, June 07, 2023 | Last modified Thursday, March 14, 2024

Municipal waste management (MWM) is essential for urban development. Efficient waste management is essential for providing a healthy and clean environment, for reducing GHGs and for increasing the amount of material recycled. Waste separation at source is perceived as an effective MWM strategy that relays on the behaviour of citizens to separate their waste in different fractions. The strategy is straightforward, and many cities have adopted the strategy or are working to implement it. However, the success of such strategy depends on adequate understanding of the drivers of the behaviour of proper waste sorting. The Theory of Planned Behaviour (TPB) has been extensively applied to explain the behaviour of waste sorting and contributes to determining the importance of different psychological constructs. Although, evidence shows its validity in different contexts, without exploring how urban policies and the built environment affect the TPB, its application to urban challenges remains unlocked. To date, limited research has focused in exposing how different urban situations such as: distance to waste bins, conditions of recycling facilities or information campaigns affect the planned behaviour of waste separation. To fill this gap, an agent-based model (ABM) of residents capable of planning the behaviour of waste separation is developed. The study is a proof of concept that shows how the TPB can be combined with simulations to provide useful insights to evaluate different urban planning situations. In this paper we depart from a survey to capture TPB constructs, then Structural Equation Modelling (SEM) is used to validate the TPB hypothesis and extract the drivers of the behaviour of waste sorting. Finally, the development of the ABM is detailed and the drivers of the TPB are used to determine how the residents behave. A low-density and a high-density urban scenario are used to extract policy insights. In conclusion, the integration between the TPB into ABMs can help to bridge the knowledge gap between can provide a useful insight to analysing and evaluating waste management scenarios in urban areas. By better understanding individual waste sorting behaviour, we can develop more effective policies and interventions to promote sustainable waste management practices.

The purpose of the ABRam-BG model is to study belief dynamics as a potential driver of green (growth) transitions and illustrate their dynamics in a closed, decentralized economy populated by utility maximizing agents with an environmental attitude. The model is built using the ABRam-T model (for model visit: https://doi.org/10.25937/ep45-k084) and introduces two types of capital – green (low carbon intensity) and brown (high carbon intensity) – with their respective technological progress levels. ABRam-BG simulates a green transition as an emergent phenomenon resulting from well-known opinion dynamics along the economic process.

This agent-based model explores the dynamics between human behavior and vaccination strategies during COVID-19 pandemics. It examines how individual risk perceptions influence behaviors and subsequently affect epidemic outcomes in a simulated metropolitan area resembling New York City from December 2020 to May 2021.

Agents modify their daily activities—deciding whether to travel to densely populated urban centers or stay in less crowded neighborhoods—based on their risk perception. This perception is influenced by factors such as risk perception threshold, risk tolerance personality, mortality rate, disease prevalence, and the average number of contacts per agent in crowded settings. Agent characteristics are carefully calibrated to reflect New York City demographics, including age distribution and variations in infection probability and mortality rates across these groups. The agents can experience six distinct health statuses: susceptible, exposed, infectious, recovered from infection, dead, and vaccinated (SEIRDV). The simulation focuses on the Iota and Alpha variants, the dominant strains in New York City during the period.

We simulate six scenarios divided into three main categories:
1. A baseline model without vaccinations where agents exhibit no risk perception and are indifferent to virus transmission and disease prevalence.

Displaying 10 of 1197 results

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