Asynchronous Price Stabilization Model in Networks

Jun Kiniwa, Kensaku Kikuta, Hiroaki Sandoh

Abstract

We consider a multiagent network model consisting of nodes and edges as cities and their links to neighbors, respectively. Each network node has an agent and priced goods and the agent can buy or sell goods in the neighborhood. Though every node may not have an equal price, we can show the prices will reach an equilibrium by iterating buy and sell operations. We introduce a framework of protocols in which each buying agent makes a bid to the lowest priced goods in the neighborhood; and each selling agent selects the highest bid (if any). So far, we have just considered such a model in a synchronous environment. We, however, cannot represent the velocity of circulation of money in the synchronous system. In other words, we cannot distinguish the different speed of money movement if every operation is synchronized. Thus, we develop an asynchronous model which enables us to generalize the theory of price stabilization in networks. Finally, we execute simulation experiments and investigate the influence of network features on the velocity of money.

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Paper Citation


in Harvard Style

Kiniwa J., Kikuta K. and Sandoh H. (2019). Asynchronous Price Stabilization Model in Networks.In Proceedings of the 11th International Conference on Agents and Artificial Intelligence - Volume 1: ICAART, ISBN 978-989-758-350-6, pages 121-128. DOI: 10.5220/0007306701210128


in Bibtex Style

@conference{icaart19,
author={Jun Kiniwa and Kensaku Kikuta and Hiroaki Sandoh},
title={Asynchronous Price Stabilization Model in Networks},
booktitle={Proceedings of the 11th International Conference on Agents and Artificial Intelligence - Volume 1: ICAART,},
year={2019},
pages={121-128},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0007306701210128},
isbn={978-989-758-350-6},
}


in EndNote Style

TY - CONF

JO - Proceedings of the 11th International Conference on Agents and Artificial Intelligence - Volume 1: ICAART,
TI - Asynchronous Price Stabilization Model in Networks
SN - 978-989-758-350-6
AU - Kiniwa J.
AU - Kikuta K.
AU - Sandoh H.
PY - 2019
SP - 121
EP - 128
DO - 10.5220/0007306701210128