Related papers: Individual Risk and Lebesgue Extension without Agg…
One challenge of large-scale data analysis is that the assumption of an identical distribution for all samples is often not realistic. An optimal linear regression might, for example, be markedly different for distinct groups of the data.…
In recent years, many efforts have been addressed on collision avoidance of collectively moving agents. In this paper, we propose a modified version of the Vicsek model with adaptive speed, which can guarantee the absence of collisions.…
Pertaining to Agent-based Computational Economics (ACE), this work presents two models for the rise and downfall of speculative bubbles through an exchange price fixing based on double auction mechanisms. The first model is based on a…
A cluster theory based mathematical model was developed and used to simulate the dynamics of a system composed of a large number of interacting agents-clusters with different size. The case of a system formed by a constant total number of…
We consider control strategies for large-scale interacting agent systems under uncertainty. The particular focus is on the design of robust controls that allow to bound the variance of the controlled system over time. To this end we…
The standard asset pricing models (the CCAPM and the Epstein-Zin non-expected utility model) counterintuitively predict that equilibrium asset prices can rise if the representative agent's risk aversion increases. If the income effect,…
The problem of consensus in the presence of misbehaving agents has increasingly attracted attention in the literature. Prior results have established algorithms and graph structures for multi-agent networks which guarantee the consensus of…
We consider a special one-parameter family of d-dimensional random, homogeneous self-similar iterated function systems (IFSs) satisfying the finite type condition. The object of our study is the positivity of Lebesgue measure and the…
Modern socio-economic systems are undergoing deep integration with artificial intelligence technologies. This paper constructs a heterogeneous agent-based modeling framework that incorporates both human workers and autonomous AI agents, to…
Economic evaluations from individual-level data are an important component of the process of technology appraisal, with a view to informing resource allocation decisions. A critical problem in these analyses is that both effectiveness and…
We propose a robust method of discrete choice analysis when agents' choice sets are unobserved. Our core model assumes nothing about agents' choice sets apart from their minimum size. Importantly, it leaves unrestricted the dependence,…
In Probabilistic Risk Management, risk is characterized by two quantities: the magnitude (or severity) of the adverse consequences that can potentially result from the given activity or action, and by the likelihood of occurrence of the…
This paper presents a dynamic model to study the impact on the economic outcomes in different societies during the Malthusian Era of individualism (time spent working alone) and collectivism (complementary time spent working with others).…
Multi-agent systems of large language models (LLMs) are rapidly expanding across domains, introducing dynamics not captured by single-agent evaluations. Yet, existing work has mostly contrasted the behavior of a single agent with that of a…
In a multi-agent system, an agent's optimal policy will typically depend on the policies chosen by others. Therefore, a key issue in multi-agent systems research is that of predicting the behaviours of others, and responding promptly to…
The purpose of the present paper is to place a number of geometric (and hands-on) configurations relating to spectrum and geometry inside a general framework for the {\it Fuglede conjecture}. Note that in its general form, the Fuglede…
Large Language Models (LLMs) are increasingly used in decision-making scenarios that involve risk assessment, yet their alignment with human economic rationality remains unclear. In this study, we investigate whether LLMs exhibit risk…
We study a class of heterogeneous agent-based models which are based on a basic set of principles, and the most fundamental operations of an economic system: trade and product transformations. A basic guiding principle is scale invariance,…
We present modified proof of a certain version of Kolmogorov's strong law of large numbers for calculation of Lebesgue Integrals by using uniformly distributed sequences in $(0,1)$. We extend the result of C. Baxa and J. Schoi$\beta$engeier…
We propose an opinion model based on agents located at the vertices of a regular lattice. Each agent has an independent opinion (among an arbitrary, but fixed, number of choices) and its own degree of conviction. The latter changes every…