Class: ZIAgent

ZIAgent(optionsopt)

a reimplementation of Gode and Sunder's "Zero Intelligence" robots, as described in the economics research literature. see Gode, Dhananjay K., and S. Sunder. [1993]. ‘Allocative efficiency of markets with zero-intelligence traders: Market as a partial substitute for individual rationality.’ Journal of Political Economy, vol. 101, pp.119-137. Gode, Dhananjay K., and S. Sunder. [1993b]. ‘Lower bounds for efficiency of surplus extraction in double auctions.’ In Friedman, D. and J. Rust (eds). The Double Auction Market: Institutions, Theories, and Evidence, pp. 199-219. Gode, Dhananjay K., and S. Sunder. [1997a]. ‘What makes markets allocationally efficient?’ Quarterly Journal of Economics, vol. 112 (May), pp.603-630.

Constructor

new ZIAgent(optionsopt)

creates "Zero Intelligence" robot agent similar to those described in Gode and Sunder (1993)
Parameters:
Name Type Attributes Description
options Object <optional>
 passed to Trader and Agent constructors()
Properties
Name Type Attributes Description
integer boolean <optional>
 true instructs pricing routines to use positive integer prices, false allows positive real number prices
Source:

Classes

ZIAgent

Methods

askPrice(marginalCost) → {number|undefined}

calculate price this agent is willing to accept as a uniform random number ~ U[marginalCost, maxPrice] inclusive. If this.integer is true, the returned price will be an integer.
Parameters:
Name Type Description
marginalCost number the marginal coat of producing the next unit. sets the minimum price for random price generation
Source:
Returns:
randomized sell price or undefined if marginalCost non-numeric or greater than this.maxPrice
Type
number | undefined

bidPrice(marginalValue) → {number|undefined}

calculate price this agent is willing to pay as a uniform random number ~ U[minPrice, marginalValue] inclusive. If this.integer is true, the returned price will be an integer.
Parameters:
Name Type Description
marginalValue number the marginal value of redeeming the next unit. sets the maximum price for random price generation
Source:
Returns:
randomized buy price or undefined if marginalValue non-numeric or less than this.minPrice
Type
number | undefined