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Displaying 10 of 216 results for "Etti Winter" clear search
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.
Abstract model investigating the determinants of inter- and intra-urban inequality in contact with nature. We explore the plausibility of a social integration hypothesis - whereby the primary factor in decisions to visit Urban Green Spaces (UGS) is an assessment of who else is likely to be using the space at the same time, and the assessment runs predominantly along class lines. The model simulates four cities in Scotland and shows the conditions under which the mechanisms theorised are sufficient to reproduce observed inequalities in UGS usage.
Within the archeological record for Bronze Age Chinese culture, there continues to be a gap in our understanding of the sudden rise of the Erlitou State from the previous late Longshan chiefdoms. In order to examine this period, I developed and used an agent-based model (ABM) to explore possible socio-politically relevant hypotheses for the gap between the demise of the late Longshan cultures and rise of the first state level society in East Asia. I tested land use strategy making and collective action in response to drought and flooding scenarios, the two plausible environmental hazards at that time. The model results show cases of emergent behavior where an increase in social complexity could have been experienced if a catastrophic event occurred while the population was sufficiently prepared for a different catastrophe, suggesting a plausible lead for future research into determining the life of the time period.
The ABM published here was originally developed in 2016 and its results published in the Proceedings of the 2017 Winter Simulation Conference.
An agent-based model to investigate the history of irrigated agriculture in the Upper Guadiana Basin, Spain, in order to learn about the influence of farmers’ characteristics (inter alia profit orientation, risk aversion, skills, available labour force and farm size) on land-use change and associated groundwater over-use in this region.
This model test the efficiency of the market economy in comparison with a hunter/gatherer economy. It also compares the model outcomes between a market economy when using eternal agents with one using mortal agents.
This model represents technological and ecological behaviors of mobile hunter-gatherers, in a variable environment, as they produce, use, and discard chipped stone artifacts. The results can be analyzed and compared with archaeological sites.
The community consequences of intra-specific trait variation (ITV) are a current topic in ecological research. The effects of ITV on species coexistence have, yet, not sufficiently been understood. With this individual-based model we analyzed the effect of intra-specific variation in movement by mimicking variation found in ground-dwelling rodents and analyzing how such variation affects inter-specific differences in competitive ability (i.e. foraging efficiency) and temporary coexistence. The movement algorithm and behavioral plasticity was adapted from existing algorithms and current ecological literature. As a measure for temporary coexistence, we analyzed the time until one of the species went extinct.
The purpose of this model is to illustrate the use of agent-based computational modelling in the study of the emergence of reputation and status beliefs in a population.
The model implements a model that reflects features of a rural hill village in Nepal. Key features of the model include water storage, social capital and migration of household members who then send remittances back to the village.
This model illustrates a positive ‘growth’ feedback loop in which the areal extent of an entity increases through time.
Displaying 10 of 216 results for "Etti Winter" clear search