Asynchronous time-space model for evolutionary market.

Asynchronous time-space model for evolutionary market.
Biosystems. 2020 Oct 10;:104272
Authors: Sasai K
Abstract
An economic system is thought to be evolutionary growing. Economists investigate human decision-making by monetary value. However, the emergent property of the economy has not been explained. A model considering the extent of the monetary value is required. In this paper, a time-space model is proposed to elucidate the economic evolution of a market. Since the market activities are always open and realtime, the model of time and space is complicated. For the complexity, the probabilistic boundary and expectations under a low-possibility are introduced. Then, time and space cannot be separated and are defined as an asynchronous relationship. We apply this time-space model to the adaptive agent models of single and double auctions. The results of the numerical simulation indicate the intermittency in a broad area of the control parameter. This result concludes that the extent of monetary value can be a basis os the evolutionary market.
PMID: 33049348 [PubMed - as supplied by publisher]

Source: Biosystems - October 10, 2020 Category: Biotechnology Authors: Sasai K Tags: Biosystems Source Type: research