Average Profits

For the first 80 or so generations, the MY profits are less than the GT profits. This is because,

1. There are too many MY around to maintain higher profits until after 80 or so generations.

2. Remember the sequential update mentioned earlier and how it causes the MY profits to be low?

3. While a MY may think that it is going to be charging the min price, because the GT have some randomness, the GT may end up charging the min price, so the MY can lose profits this way (hence MY profit will be less than GT profit).

4. Also note that the MY profits are not that much lower than the GT profits.

After the first 80 or so generations, the MY profits become split, with around half of the MY profits being greater than the GT profits and around half of the MY profits being less than the GT profits. If the MY get the min profits then they will have a profit higher than the GT profit. If the MY try to get the min profit but are unable to then they will end up with a profit lower than the GT profit.

Figure 5a. Showing the individual pricebot profits for 5 MY pricebots. Figure 5b. Average profits for 50 GT versus 50 MY initially