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Artificial Life and Robotics

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08-11-2016 | Original Article

Extremely localized interaction in a market model

Authors: Kazuto Sasai, Yukio-Pegio Gunji, Tetsuo Kinoshita

Published in: Artificial Life and Robotics | Issue 1/2017

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Abstract

The model of self-organized criticality (SOC) is a useful tool to understand the complexity of natural systems in the form of the artificial life and the artificial market. However, SOC remains the question what guarantees the criticality even though the natural systems seem to keep itself in the critical state. In this paper, we focus on the locality of interaction in zero-intelligence plus (ZIP) model. The extremely localized interaction changes the behavior of the ZIP model from equilibrium to intermittency. Although the original ZIP model falls into unstable with some noise, extremely localized interaction model archives robust intermittency against the noise parameter. Further, the statistical property of intermittent behavior shows the power-law nature.

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Title: Extremely localized interaction in a market model
Authors: Kazuto Sasai
Yukio-Pegio Gunji
Tetsuo Kinoshita
Publication date: 08-11-2016
Publisher: Springer Japan
Published in: Artificial Life and Robotics / Issue 1/2017
Print ISSN: 1433-5298
Electronic ISSN: 1614-7456
DOI: https://doi.org/10.1007/s10015-016-0334-1

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