The Price Evolution with Expectations model provides the opportunity to explore the question of non-equilibrium market dynamics, and how and under which conditions an economic system converges to the classically defined economic equilibrium. To accomplish this, we bring together two points of view of the economy; the classical perspective of general equilibrium theory and an evolutionary perspective, in which the current development of the economic system determines the possibilities for further evolution.

The Price Evolution with Expectations model consists of a representative firm producing no profit but producing a single good, which we call sugar, and a representative household which provides labour to the firm and purchases sugar.The model explores the evolutionary dynamics whereby the firm does not initially know the household demand but eventually this demand and thus the correct price for sugar given the household’s optimal labour.

The model can be run in one of two ways; the first does not include money and the second uses money such that the firm and/or the household have an endowment that can be spent or saved. In either case, the household has preferences for leisure and consumption and a demand function relating sugar and price, and the firm has a production function and learns the household demand over a set number of time steps using either an endogenous or exogenous learning algorithm. The resulting equilibria, or fixed points of the system, may or may not match the classical economic equilibrium.

The simulation generates two kinds of agents, whose proposals are generated accordingly to their selfish or selfless behaviour. Then, agents compete in order to increase their portfolio playing the ultimatum game with a random-stranger matching.

This is code repository for the paper “Homophily as a process generating social networks: insights from Social Distance Attachment model”.
It provides all information, code and data necessary to replicate all the simulations and analyses presented in the paper.
This document contains the overall instruction as well as description of the content of the repository.
Details regarding particular stages are documented within source files as comments.

Digital-Twin model of Sejong City – Source model code & data

We only shared model codes, excluding private data and simulation engine codes.
The followings are brief reasons for the items we cannot share.

1. Residence address data
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A reimplementation of the Wedding Ring model by Francesco Billari. We investigate partnership formation in an agent-based framework, and combine this with statistical demographic projections using real empirical data.

The model explores the impact of journal metrics (e.g., the notorious impact factor) on the perception that academics have of an article’s scientific value.

This is a final project for the class AML 591 at Arizona State University. I have done a small amount of bug-checking, but overall the project represents only a half of a semester’s work, so proceed w

In CmLab we explore the implications of the phenomenon of Conservation of Money in a modern economy. This is one of a series of models exploring the dynamics of sustainable economics – PSoup, ModEco, EiLab, OamLab, MppLab, TpLab, CmLab.

This is the replication of the experiment performed by Eerkens and Lipo (2005) to look at the effect of copying errors when specific traits are transferred from an individual to another.

What is stable: the large but coordinated change during a diffusion or the small but constant and uncoordinated changes during a dynamic equilibrium? This agent-based model of a diffusion creates output that reveal insights for system stability.