Table 1 Summary of agent-based model parameters.
From: Emergent poverty traps at multiple levels impede social mobility
Parameter | Description | Value(s) |
|---|---|---|
N | Number of agents | 1225 |
K | Number of model steps | 100 |
λ | Poisson parameter for generating update times | 10 |
μ | Average of initial wealth distribution | 10 |
σ | Standard deviation of initial wealth distribution | 1 |
M | Initial number of project returns | 2000 |
Llower | Lower uniform bound for project loss | 0.90 |
Lupper | Upper uniform bound for project loss | 0.95 |
Glower | Lower uniform bound for project gain | 1.60 |
Gupper | Upper uniform bound for project gain | [1.70, 8.00] |
Gsafe | Safe asset gain | 1.10 |
ℓ | Parameter for generating project loss probabilities | [0.30, 0.45] |
θ | Minimum required project investment | [0.05, 0.95] |
β | Saving propensity | [0.70, 0.80] |
α | Homophily parameter | [2.00, 12.00] |
b | Characteristic distance | See “Agent social network” |
\({\gamma }_{+}^{{\rm{lower}}}\) | Lower uniform bound for γ+ (risk attitude for gains) | 5 |
\({\gamma }_{+}^{{\rm{upper}}}\) | Upper uniform bound for γ+ (risk attitude for gains) | 30 |
\({\gamma }_{-}^{{\rm{lower}}}\) | Lower uniform bound for γ− (risk attitude for losses) | 31 |
\({\gamma }_{-}^{{\rm{upper}}}\) | Upper uniform bound for γ− (risk attitude for losses) | 70 |
\({\delta }_{+}^{{\rm{lower}}}\) | Lower uniform bound for δ+ (weighting parameter for gains) | 0.50 |
\({\delta }_{+}^{{\rm{upper}}}\) | Upper uniform bound for δ+ (weighting parameter for gains) | 0.70 |
\({\delta }_{-}^{{\rm{lower}}}\) | Lower uniform bound for δ− (weighting parameter for losses) | 0.71 |
\({\delta }_{-}^{{\rm{upper}}}\) | Upper uniform bound for δ− (weighting parameter for losses) | 0.90 |
