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| − | ==Meeting Agendas/Tasks for Next Meeting==
| + | [[Minsim Meeting Agendas and Recaps]] |
| − | 09/29/08
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| − | For next week:
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| − | * Look up information on Aspen project/failure(?) (starting point: [http://www.cs.sandia.gov/tech_reports/rjpryor/Aspen.html Aspen])
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| − | *Look at Chris's software and start trying to see if real-life economic problems are reproduced in the simulation
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| − | *Examples:
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| − | **Tariffs, international trade
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| − | **Specialization of labor, Adam Smith
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| − | **Maximizing revenue of entrepreneurs vs total country revenue
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| − | **Inflation, Stagflation, Phillips curve
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| − | **Compare the stability of a central banking system with that of the gold standard
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| − | **Evaluate the "bailout"
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| − | *Post summaries of articles up on the wiki
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| − | **Sign up for the wiki
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| − | **Edit the section "Papers on economic Agent-Based simulation"
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| − | Extension:
| + | [http://minsim.cs.princeton.edu Main MinSim Site] |
| − | * Look at the household model and formulate ways to improve Chris's model
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| − | 10/06/08
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| − | *Went over code
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| − | *Why don't prices stabilize on its own?
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| − | *Broad objectives?
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| − | *Figure out where supply/demand is in the code
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| − | *use this to see if the simulation satisfies the properties of supply/demand
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| − | *Play with parameters- More stability with more workers, etc? (keep in mind that this slows down the program)
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| − | *Brainstorm things we can look at in the future
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| − | *Interest rates?
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| − | *Meet separately Wednesday (4:30, Friend library) to look over code
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| − | *Start looking into old intro micro/macro books
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| − | Meeting Recap 10/13/08 - Tasks
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| − | *Baseline economy
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| − | *Arbitragers
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| − | *External Influence
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| − | **SEC Regulation
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| − | **Government Regulation
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| − | **Taxes
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| − | **Media
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| − | **Rumors
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| − | *Factors going into external influence
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| − | **Banking
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| − | ***Central banks
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| − | ***Gold standard
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| − | **Technical vs. Fundamental analysis
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| − | ***Trend following
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| − | **Machine learning
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| − | ***Partial/full information for agent?
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| − | ***Emotional agents?
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| − | ***Agents don’t have to be fully rational
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| − | ***How good should the machine learning be to reflect the world?
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| − | **International Trade
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| − | Meeting Recap 10/20/08 - Tasks
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| − | *eric- lifecycles of individual
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| − | *tony- info flow, communication, mkt for information
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| − | *stephanie- financial intruments? taxes, 401ks?
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| − | **Current banking system, politician's plans- will it work? Moratorium on mortgages. Free market vs. regulation of government
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| − | **Controversy b/w deregulation and regulation, party platforms
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| − | *CVS setup
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| − | Meeting 11/3/08
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| − | *Sheri wants to look at Trend following, arbitrageurs
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| − | *Tony wants to look at media- flow of information in economy where default state is that they only know local information
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| − | *To simulate: make a theory, get mathematical results, then simulate to verify/revoke results
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| − | *Market failure - used to justify infusion of capital, govt regulation (build model for credit default swaps - miscalculation of risk- because of lack of government regulation?)
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| − | *IIASA: publications that conduct interdisciplinary studies on economy and other global forces: [http://www.iiasa.ac.at/cgi-bin/pub/pubsrchKK IIASA]
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| − | Meeting Updates 11/10/08
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| − | * Eric's professor recommends that he understand the original model in the simulation and go through literature to understand savings and lifetimes.
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| − | * Tony - wants to start fundamentally on convergent prices and how information flows with pricing mechanisms.
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| − | **Zero-intelligence Agents- Economic science association conference
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| − | **JEBO- paper by Mizuta, giving agents access to order book with offers to buy and sell-- enormously stabilizing
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| − | * Tony's advisor wants him to first do analytics, then do simulation
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| − | * Stephanie- is going to look into interbank lending and the credit crunch, then if possible, look into CDS contracts
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| − | ** Prof Steiglitz has a technical description of credit crunch by a WWS professor affililated with the Econ dept
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| − | 11/17/08
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| − | * Tony should look into auctions
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| − | * Stephanie will write up API documentation on the banking code.
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| − | * Framework interface is set up to define arbitrageurs like hedge fund. The entrepreneurs are arbitrage firms.
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| − | * Presentation by Prof. Vichnevetsky: "World" Modeling and Simulation
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| − | * Bib-tech: allows you to sort citations
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| − | 11/24/08
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| − | * Paper summaries: To migrate to the main website at minsim.cs.princeton.edu. Will create a bibliographic list, with links to popups with sumaries.
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| − | * Tutorial
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| − | ** Should be assessable to everyone
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| − | ** Getting started page
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| − | ** Step by step instructions
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| − | ** Eclipse cheat-sheet
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| − | ** Applications to COS444 and other classes
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| − | * Tony: locality problems to be looked into
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| − | * Machine learning responses to bidding strategies
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| − | ** Ausubel + Cramton paper
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This page will detail work done in Agent-Based simulation of a minimal economy (MinSim) at Princeton University and links to research being done elsewhere.
This page will be under constant construction during the Fall 2008-2009 term. Please come back soon for updates.
