Turbo_Firm.py

import numpy as np
from Turbo_utils import *
class Firm:
    def __init__(self, id, initial_wealth):
        self.id = id
        self.wealth = 5
        self.capital = 6
        self.productivity = 1
        self.capital_elasticity = 0.5
        self.depreciation_rate = 0.1
        self.discount_rate = 0.05
        self.production = 0
        self.labor_demand = 0
        self.labor_bid = 0.0625 
        self.consumption_ask = 1
        self.time_horizon = 1
        self.labor_price_expectations = [0.0625]
        self.labor_supply_expectations = [300]
        self.consumption_price_expectations = [1]
        self.consumption_demand_expectations = [30]

    def get_min_consumption_price(self):
        # Set consumption prices based on labor price expectations
        price = self.consumption_price_expectations[0] * .5
        return price

    def get_max_labor_price(self):
        # Set labor prices based on consumption price expectations
        price = self.labor_price_expectations[0] * 1.5
        return price
    
    def get_profit_params(self):
        params = {
            'current_capital': self.capital,
            'current_labor': 0,
            'current_price': self.consumption_price_expectations[0],
            'current_productivity': self.productivity,
            'expected_demand': self.consumption_demand_expectations,
            'expected_price': self.consumption_price_expectations,
            'capital_price': 1,
            'capital_elasticity': self.capital_elasticity,
            'current_inventory': 0,
            'depreciation_rate': self.depreciation_rate,
            'expected_periods': self.time_horizon,
            'discount_rate': self.discount_rate,
            'budget': self.wealth,
            'wage': self.labor_price_expectations,
            'capital_supply': 0,
            'labor_supply': self.labor_supply_expectations
        }
        if not check_valid_params(params):
            raise ValueError("Invalid parameters for profit maximization")
        return params

    def update_expectations(self, labor_market_stats, consumption_market_stats):
        alpha = 1  # Weight for new information
        
        # Update labor market expectations
        if is_valid_number(labor_market_stats.get('price')):
            new_labor_price = alpha * labor_market_stats['price'] + (1 - alpha) * self.labor_price_expectations[0]
            self.labor_price_expectations = [new_labor_price]
            
            new_labor_supply = alpha * labor_market_stats['supply'] + (1 - alpha) * self.labor_supply_expectations[0]
            self.labor_supply_expectations = [new_labor_supply]
        
        # Update consumption market expectations
        if is_valid_number(consumption_market_stats.get('price')):
            new_consumption_price = alpha * consumption_market_stats['price'] + (1 - alpha) * self.consumption_price_expectations[0]
            self.consumption_price_expectations = [new_consumption_price]
        
        if is_valid_number(consumption_market_stats.get('demand')):
            new_consumption_demand = alpha * consumption_market_stats['demand'] + (1 - alpha) * self.consumption_demand_expectations[0]

            self.consumption_demand_expectations = [new_consumption_demand]