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Chapter 4 – Sugar & Spice – Trade Comes to Sugarscape

Chapter 4 – Sugar & Spice – Trade Comes to Sugarscape. Sugar, Spice & Trade. This chapter is mainly on price No Auctioneer for top-down but a bottom-up emergence effects the price equillibrium Agents have a welfare function, a movement rule Agents have a trade rule

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Chapter 4 – Sugar & Spice – Trade Comes to Sugarscape

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  1. Chapter 4 – Sugar & Spice – Trade Comes to Sugarscape

  2. Sugar, Spice & Trade • This chapter is mainly on price • No Auctioneer for top-down but a bottom-up emergence effects the price equillibrium • Agents have a welfare function, a movement rule • Agents have a trade rule • Initial Carrying Capacity in Sugar-Spice scape is low • Carrying capacity increases but so also the skewness of wealth

  3. Scenario: Lesser Interactions with Vision • Vision decreases, price dispersion increases Reason: Agents move around less and hence more price heterogeneity Scenario: Finite Lives: Replacement • Replacement comes into effect. • Price dispersion increases Reason: • More young agents with their MRSs away from the prevailing exist. • Price variance increases • Price dispersion decreases as the lifetime increases

  4. Scenario – Equity • With carrying capacity increased, the inequity increases. Reason: Given the scape situation as-is, there are many agents with diverse wealth content. Scenario – Sexual Reproduction • Price dispersion increases Reason: With the new borns, the MRSs are way far from the prevailing levels

  5. Scenario: Culture • Price dispersion takes a random walk Reason: Culture is evolving & preferences are constantly changing as the agents are exchanging information. Scenario: Pollution • Price dispersion turns exponential • With diffusion, it returns to 1 Reason: Agents move from sugar hills and they need sugar. So they buy at high prices. With pollution turned off, they return to sugar hill

  6. Scenario: Credit Rule • Evolution of borrowers, lenders and lender-borrowers. • Hierarchical evolution emerges Summary: • Solving collective problems which the agents cannot solve in isolation. • Emergence of equilibrium from the bottom.

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