import {ZIAgent} from 'market-agents/src/index.js'

public class | source

ZIAgent

Extends:

events~EventEmitter → Agent → Trader → ZIAgent

Direct Subclass:

UnitAgent

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 Summary

Public Constructor
public	constructor(options: Object) creates "Zero Intelligence" robot agent similar to those described in Gode and Sunder (1993)

Method Summary

Public Methods
public	askPrice(marginalCost: number): number \| undefined calculate price this agent is willing to accept as a uniform random number ~ U[marginalCost, maxPrice] inclusive.
public	bidPrice(marginalValue: number): number \| undefined calculate price this agent is willing to pay as a uniform random number ~ U[minPrice, marginalValue] inclusive.

Inherited Summary

From class Agent
public	period: *
public	wakeTime: number time, in JS ms since epoch, of agent wake
public	endPeriod() ends current period, causing agent to undertake end-of-period tasks such as production and redemption of units
public	init(newSettings: Object) initialize an agent to new settings
public	initPeriod(period: number \| Object) re-initialize agent to the beginning of a new simulation period
public	pctPeriod(): number percent of period used
public	poissonWakesRemainingInPeriod(): number guess at number of random Poisson wakes remaining in period
public	produce() produces units in negative inventory with configured costs, usually called automatically at end-of-period.
public	redeem() redeems units in positive inventory with configured values, usually called automatically at end-of-period.
public	transfer(myTransfers: Object, memo: Object) increases or decreases agent's inventories of one or more goods and/or money
public	unitCostFunction(good: String, hypotheticalInventory: Object): number agent's marginal cost of producing next unit
public	unitValueFunction(good: String, hypotheticalInventory: Object): number agent's marginal value for redeeming next unit
public	wake(info: Object) wakes agent so it can act, emitting wake, and sets next wakeTime from this.nextWake() unless period.endTime exceeded

From class Trader
public abstract	ask(market: Object, myPrice: number) send a limit order to sell one unit to the indicated market at myPrice.
public abstract	askPrice(marginalCost: number, market: Object): number \| undefined calculate price this agent is willing to accept.
public abstract	bid(market: Object, myPrice: number) send a limit order to buy one unit to the indicated market at myPrice.
public abstract	bidPrice(marginalValue: number, market: Object): number \| undefined calculate price this agent is willing to pay.
public	sendBidsAndAsks() For each market in agent's configured markets, calculates agent's price strategy for buy or sell prices and then sends limit orders for 1 unit at those prices.

Public Constructors

public constructor(options: Object) source

creates "Zero Intelligence" robot agent similar to those described in Gode and Sunder (1993)

Override:

Trader#constructor

Params:

Name	Type	Attribute	Description
options	Object	optional	passed to Trader and Agent constructors()
options.integer	boolean	optional	true instructs pricing routines to use positive integer prices, false allows positive real number prices

Public Methods

public askPrice(marginalCost: number): number | undefined source

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.

Override:

Trader#askPrice

Params:

Name	Type	Attribute	Description
marginalCost	number		the marginal coat of producing the next unit. sets the minimum price for random price generation

Return:

number | undefined

randomized sell price or undefined if marginalCost non-numeric or greater than this.maxPrice

public bidPrice(marginalValue: number): number | undefined source

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.

Override:

Trader#bidPrice

Params:

Name	Type	Attribute	Description
marginalValue	number		the marginal value of redeeming the next unit. sets the maximum price for random price generation

Return:

number | undefined

randomized buy price or undefined if marginalValue non-numeric or less than this.minPrice