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<title>ACE Tutorials</title><link>http://mcbridme-1.sba.muohio.edu/index.html</link><description>Tutorials on Agent-based Computational Economics</description><dc:language>en</dc:language><dc:creator>mark.mcbride@muohio.edu</dc:creator><dc:rights>Copyright 2007 Mark McBride</dc:rights><dc:date>2008-11-29T20:22:48-05:00</dc:date><admin:generatorAgent rdf:resource="http://www.realmacsoftware.com/" />
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<lastBuildDate>Mon, 11 Feb 2008 10:46:07 -0500</lastBuildDate><item><title>Bilateral Exchange Small World Model</title><dc:creator>mark.mcbride@muohio.edu</dc:creator><category>ACE Models</category><dc:date>2008-11-29T20:22:48-05:00</dc:date><link>http://mcbridme-1.sba.muohio.edu/blog/files/8de9152227649be95630174cbe647782-6.html#unique-entry-id-6</link><guid isPermaLink="true">http://mcbridme-1.sba.muohio.edu/blog/files/8de9152227649be95630174cbe647782-6.html#unique-entry-id-6</guid><content:encoded><![CDATA[A new Netlogo model that implements Wilhite&rsquo;s (2001) model of bilateral exchange in a small world has been added to the computational labs section of the site.    The model implements most of the features of Wilhite&rsquo;s original model.  ]]></content:encoded></item><item><title>Wealth Distribution Lab Added</title><dc:creator>mark.mcbride@muohio.edu</dc:creator><category>ACE Models</category><dc:date>2008-11-22T11:22:34-05:00</dc:date><link>http://mcbridme-1.sba.muohio.edu/blog/files/9475837cd8b9f5ece1a9daf93d0a6513-5.html#unique-entry-id-5</link><guid isPermaLink="true">http://mcbridme-1.sba.muohio.edu/blog/files/9475837cd8b9f5ece1a9daf93d0a6513-5.html#unique-entry-id-5</guid><content:encoded><![CDATA[A lab assignment that works in conjunction with the Wealth Distribution model of the NetLogo sample libriary is now available.    The Netlogo model implements one aspect of Epstein and Axtell&rsquo;s Sugarscape world from Growing Artificial Societies.]]></content:encoded></item><item><title>Evolutionary IPD Lab Added</title><dc:creator>mark.mcbride@muohio.edu</dc:creator><category>ACE Models</category><dc:date>2008-11-16T10:54:36-05:00</dc:date><link>http://mcbridme-1.sba.muohio.edu/blog/files/3d33f5ed4303371eca731815698902df-4.html#unique-entry-id-4</link><guid isPermaLink="true">http://mcbridme-1.sba.muohio.edu/blog/files/3d33f5ed4303371eca731815698902df-4.html#unique-entry-id-4</guid><content:encoded><![CDATA[A lab assignment that works in conjunction with the Prisoner Dilemma Basic Evolutionary model of the NetLogo sample library is now available.    The model implements a very simple evolutionary model where agents play a PD game with their neighbors and then imitate their neighbor who has the best performance period to period.]]></content:encoded></item><item><title>IPD Model Updated</title><dc:creator>mark.mcbride@muohio.edu</dc:creator><category>ACE Models</category><dc:date>2008-09-20T20:04:15-04:00</dc:date><link>http://mcbridme-1.sba.muohio.edu/blog/files/44c3a1b73d45a045f998135bf8221d16-3.html#unique-entry-id-3</link><guid isPermaLink="true">http://mcbridme-1.sba.muohio.edu/blog/files/44c3a1b73d45a045f998135bf8221d16-3.html#unique-entry-id-3</guid><content:encoded><![CDATA[The IPD model has been updated to work with NetLogo 4.0.3.]]></content:encoded></item><item><title>ZI-Trading Model Updated</title><dc:creator>mark.mcbride@muohio.edu</dc:creator><category>ACE Models</category><dc:date>2008-09-20T18:55:40-04:00</dc:date><link>http://mcbridme-1.sba.muohio.edu/blog/files/8930a115196b9dbb7c04019a42cf7eab-2.html#unique-entry-id-2</link><guid isPermaLink="true">http://mcbridme-1.sba.muohio.edu/blog/files/8930a115196b9dbb7c04019a42cf7eab-2.html#unique-entry-id-2</guid><content:encoded><![CDATA[The ZI-Trading model has been updated to work with NetLogo 4.0.3.]]></content:encoded></item><item><title>ZI-Trading Model Updated</title><dc:creator>mark.mcbride@muohio.edu</dc:creator><category>ACE Models</category><dc:date>2008-02-11T10:43:39-05:00</dc:date><link>http://mcbridme-1.sba.muohio.edu/blog/files/83c03af208d111196f482cedd4163618-1.html#unique-entry-id-1</link><guid isPermaLink="true">http://mcbridme-1.sba.muohio.edu/blog/files/83c03af208d111196f482cedd4163618-1.html#unique-entry-id-1</guid><content:encoded><![CDATA[A series of minor updates to the Information section of the model (with thanks to Prof.   Leigh Tesfatsion for making the suggestions).    Basically, the information section now more clearly explains how the model works.    The changes have also been reflected in the lab report pdf and the homework pdf files.    The lab report and homework pdf's have also been changed to make them course independent.]]></content:encoded></item><item><title>ZI-Trading Model Updated</title><dc:creator>mark.mcbride@muohio.edu</dc:creator><category>ACE Models</category><dc:date>2007-01-10T13:40:28-05:00</dc:date><link>http://mcbridme-1.sba.muohio.edu/blog/files/36b4bab85e85b9d9ee6b5ad423e17540-0.html#unique-entry-id-0</link><guid isPermaLink="true">http://mcbridme-1.sba.muohio.edu/blog/files/36b4bab85e85b9d9ee6b5ad423e17540-0.html#unique-entry-id-0</guid><content:encoded><![CDATA[The original version of the model posted in the summer of 2006 worked by randomly matching a buyer and seller each tick of the clock.    The buyer and seller randomly formed their respective bid and ask with a positive profit constraint (ZI-C).  

...Now the model uses the simple order book described on pages 121-122 of Gode and Sunder (1993).  ...  The trader randomly forms their bid or ask and then compares it to the order book.  ...  If the bid is higher than the current best ask on the book, the buyer trades with the seller who posted the current best ask.    If the bid is below the current best ask, the bid either replaces the current best bid if higher than the current best bid or the bid is ignored if below the current best bid.    If a trade did occur, both the buyer and seller are removed from the list of available traders (they only trade one unit) and the order book is reset to empty.  

...A switch was also added to the model to allow the user to select between zero-intelligence constrained and unconstrained traders.    The constrained traders (ZI-C) cannot post a bid higher than their buyer value nor ask lower than their cost; thus forcing positive profits.    An unconstrained buyer or seller (ZI-U) can post an bid or ask anywhere between 1 and the maximum buyer value or seller cost.]]></content:encoded></item></channel>
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