Interbank Contagion
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turtles-own [assets pmt BOL] links-own [SOD] ;;;;;;;;;;;;;;;;;;; ;; INITIAL SETUP ;; ;;;;;;;;;;;;;;;;;;; to setup clear-all create-turtles 100 [set color green set shape "circle"] layout-circle turtles 15 MakeLinks InitiateVariables reset-ticks end to MakeLinks ; Asks turtles to create out-links to other turtles. ; The number of out-links created is specified by the user. ; The direction of the link goes to from borrower to lender. ask turtles [ while [count my-out-links < number-of-links] [ create-link-to (one-of other turtles with [not out-link-neighbor? myself]) ] ] end to InitiateVariables ; This sets initial values for pmt, assets, and BOL. ask turtles [ ask in-link-neighbors [ set pmt random-exponential 100 ] set assets (sum [pmt] of in-link-neighbors) set BOL (pmt * count my-out-links) ] end ;;;;;;;;;;;;;;;;;;; ;; GO PROCEDURES ;; ;;;;;;;;;;;;;;;;;;; to go UpdateVariables Fail tick end to UpdateVariables ask turtles [ ; If a turtle has any borrowers, it collects their payments, ; then adds those payments to its assets, minus what it must pay to another. ; If it does not, it simply saves the leftovers from making its own payment. ; (Recall that in-link-neighbors are borrowers, out-link-neighbors are lenders.) let new-assets (sum [pmt] of in-link-neighbors) set assets (assets + new-assets - (pmt * count my-out-links)) ; Updates BOL. set BOL (pmt * count my-out-links) ; Links calculate SOD. ask my-in-links [ ifelse ([new-assets] of end2) != 0 [ set SOD ([pmt] of end1 / [new-assets] of end2) ] [set SOD 0] ] ] end to Fail ; Turtles drop out if they are unable to pay their debts. ; Their borrowers are asked to link to another lender. ask turtles [ if (assets - pmt) < 0 [ ask in-link-neighbors [ create-link-to (one-of other turtles with [not out-link-neighbor? myself]) ] die ] ] end
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