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We also maintain a curated database of over 7500 publications of agent-based and individual based models with 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.
CEDSS is an agent-based model of domestic energy demand at the level of a small community.
This version 2.1.0 of the uFunk model is about setting a business strategy (the S in the name) for an organization. A team of managers (or executives) meet and discuss various options on the strategy for the firm. There are three aspects that they have to agree on to set the strategic positioning of the organization.
The discussion is on market, stakeholders, and resources. The team (it could be a business strategy task force) considers various aspects of these three elements. The resources they use to develop the discussion can come from a traditional approach to strategy or from non-traditional means (e.g., so-called serious play, creativity and imagination techniques).
The S-uFunk 2.1.0 Model wants to understand to which extent cognitive means triggered by traditional and non-traditional resources affect the making of the strategy process.
This model is a minimal agent-based model (ABM) of green consumption and market tipping dynamics in a stylised two-firm economy. It is designed as an existence proof to illustrate how weak individual preferences, when combined with habit formation, social influence, and firm price adaptation, can generate non-linear transitions (tipping points) in market outcomes.
The economy consists of:
1) Two firms, each supplying a differentiated consumption bundle that differs in its fixed green share (one relatively greener, one less green).
2) Many households, each consuming a unit mass per period and allocating consumption between the two firms.
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The purpose of the model is to explore the influence of the design of circular business models (CBMs) on CBM viability. The model represents an Industrial Symbiosis Network (ISN) in which a processor uses the organic waste from suppliers to produce biogas and nutrient rich digestate for local reuse. CBM viability is expressed as value captured (e.g., cash flow/tonne waste/agent) and the survival of the network over time (shown in the interface).
In the model, the value captured is calculated relative to the initial state, using incineration costs as a benchmark. Moderating variables are interactions with the waste incinerator and actor behaviour factors. Actors may leave the network when the waste supply for local production is too low, or when personal economic benefits are too low. When the processor decides to leave, the network fails. Theory of planned behaviour can be used to include agent behaviour in the simulations.
ICARUS is a multi-agent compliance inspection model (ICARUS - Inspecting Compliance to mAny RUleS). The model is applicable to environments where an inspection agency, via centrally coordinated inspections, examines compliance in organizations which must comply with multiple provisions (rules). The model (ICARUS) contains 3 types of agents: entities, inspection agency and inspectors / inspections. ICARUS describes a repeated, simultaneous, non-cooperative game of pure competition. Agents have imperfect, incomplete, asymmetric information. Entities in each move (tick) choose a pure strategy (comply/violate) for each rule, depending on their own subjective assessment of the probability of the inspection. The Inspection Agency carries out the given inspection strategy.
A more detailed description of the model is available in the .nlogo file.
Full description of the model (in line with the ODD+D protocol) and the analysis of the model (including verification, validation and sensitivity analysis) can be found in the attached documentation.
A thermostat is a device that allows to have the temperature in a room near a desire value.
EMMIT is an end-user developed agent-based simulation of malaria transmission. The simulation’s development is a case study demonstrating an approach for non-technical investigators to easily develop useful simulations of complex public health problems. We focused on malaria transmission, a major global public health problem, and insecticide resistance (IR), a major problem affecting malaria control. Insecticides are used to reduce transmission of malaria caused by the Plasmodium parasite that is spread by the Anopheles mosquito. However, the emergence and spread of IR in a mosquito population can diminish the insecticide’s effectiveness. IR results from mutations that produce behavioral changes or biochemical changes (such as detoxification enhancement, target site alterations) in the mosquito population that provide resistance to the insecticide. Evolutionary selection for the IR traits reduces the effectiveness of an insecticide favoring the resistant mosquito population. It has been suggested that biopesticides, and specifically those that are Late Life Acting (LLA), could address this problem. LLA insecticides exploit Plasmodium’s approximate 10-day extrinsic incubation period in the mosquito vector, a delay that limits malaria transmission to older infected mosquitoes. Since the proposed LLA insecticide delays mosquito death until after the exposed mosquito has a chance to produce several broods of offspring, reducing the selective pressure for resistance, it delays IR development and gives the insecticide longer effectivity. Such insecticides are designed to slow the evolution of IR thus maintaining their effectiveness for malaria control. For the IR problem, EMMIT shows that an LLA insecticide could work as intended, but its operational characteristics are critical, primarily the mean-time-to-death after exposure and the associated standard deviation. We also demonstrate the simulation’s extensibility to other malaria control measures, including larval source control and policies to mitigate the spread of IR. The simulation was developed using NetLogo as a case study of a simple but useful approach to public health research.
This model represents informal information transmission networks among medieval Genoese investors used to inform each other about cheating merchants they employed as part of long-distance trade operations.
Purpose of the model is to perform a “virtual experiment” to test the predator satiation hypothesis, advanced in literature to explain the mast seeding phenomenon.
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