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Related Experiment Video

Updated: Dec 6, 2025

Spatial Multiobjective Optimization of Agricultural Conservation Practices using a SWAT Model and an Evolutionary Algorithm
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Asynchronous time-space model for evolutionary market.

Kazuto Sasai1

  • 1Graduate School of Science and Engineering, Ibaraki University, Nakanaruwsawa 4-12-1, 316-8511 Hitachi, Ibaraki, Japan.

Bio Systems
|October 13, 2020
PubMed
Summary

This study introduces a novel time-space model to explain economic evolution, revealing that the extent of monetary value drives market changes. This evolutionary economics model provides insights into emergent market properties.

Keywords:
AsynchronyDouble-auctionEvolvabilityInternal measurementTime–space model

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Area of Science:

  • Economics
  • Complex Systems
  • Agent-Based Modeling

Background:

  • Economic systems are viewed as evolutionary, with economists studying decision-making based on monetary value.
  • The emergent properties of economies have remained unexplained, necessitating a model that considers the scope of monetary value.

Purpose of the Study:

  • To propose a time-space model for elucidating the evolutionary dynamics of a market.
  • To address the complexity of open and real-time market activities by introducing probabilistic boundaries and low-probability expectations.

Main Methods:

  • Development of a time-space model where time and space are inseparable and defined by an asynchronous relationship.
  • Application of the proposed model to adaptive agent models for single and double auctions.

Main Results:

  • Numerical simulations demonstrated intermittency across a wide range of control parameters.
  • The findings suggest a connection between the extent of monetary value and market evolution.

Conclusions:

  • The extent of monetary value can serve as a foundational element for understanding evolutionary markets.
  • The proposed time-space model offers a new framework for analyzing economic complexity and emergent behavior.