Related papers: Analytical Expression of the Expected Values of Ca…
Consideration was given to a model of social dynamics controlled by successive collective decisions based on the threshold majority procedures. The current system state is characterized by the vector of participants' capitals (utilities).…
Social dynamics determined by voting in a stochastic environment is analyzed for a society composed of two cohesive groups of similar size. Within the model of random walks determined by voting, explicit formulas are derived for the capital…
In this paper, we study the efficiency of egoistic and altruistic strategies within the model of social dynamics determined by voting in a stochastic environment (the ViSE model) using two criteria: maximizing the average capital increment…
Within the model of social dynamics determined by collective decisions in a stochastic environment (the ViSE model), we consider the case of a homogeneous society consisting of classically rational economic agents. We obtain analytical…
Within the model of social dynamics determined by collective decisions in a stochastic environment (ViSE model), we consider the case of a homogeneous society consisting of classically rational economic agents (or homines economici, or…
There is a paradox in the model of social dynamics determined by voting in a stochastic environment (the ViSE model) called "pit of losses." It consists in the fact that a series of democratic decisions may systematically lead the society…
Decision-making societies may vary in their level of cooperation and degree of conservatism, both of which influence their overall performance. Moreover, these factors are not fixed -- they can change based on the decisions agents in the…
We present analytical investigations of a multiplicative stochastic process that models a simple investor dynamics in a random environment. The dynamics of the investor's budget, $x(t)$, depends on the stochasticity of the return on…
Our model describes competition between groups driven by the choices of self-interested voters within groups. Within a Poisson voting environment, parties observe aggregate support from groups and can allocate prizes or punishments to them.…
Within the ViSE (Voting in Stochastic Environment) model, we study social dynamics determined by collective decisions in a society with an elite. The model allows the analysis of the influence of participants' social attitudes, such as the…
We expect that democracy enables us to utilize collective intelligence such that our collective decisions build and enhance social welfare, and such that we accept their distributive and normative consequences. Collective decisions are…
The valuation process that economic agents undergo for investments with uncertain payoff typically depends on their statistical views on possible future outcomes, their attitudes toward risk, and, of course, the payoff structure itself.…
We propose models describing the collective dynamics of two opposing groups of individuals with stochastic communication. Individuals from the same group are assumed to align in a stochastic manner, while individuals from different groups…
We introduce a class of stochastic models for the dynamics of two linguistic variants that are competing to become the single, shared convention within an unstructured community of speakers. Different instances of the model are…
Understanding citizens' values in participatory systems is crucial for citizen-centric policy-making. We envision a hybrid participatory system where participants make choices and provide motivations for those choices, and AI agents…
We propose a simple stochastic model of market behavior. Dividing market participants into two groups: trend-followers and fundamentalists, we derive the general form of a stochastic equation of market dynamics. The model has two…
Organisms and ecological groups accumulate evidence to make decisions. Classic experiments and theoretical studies have explored this process when the correct choice is fixed during each trial. However, we live in a constantly changing…
We study two agent based models of opinion formation - one stochastic in nature and one deterministic. Both models are defined in terms of an underlying graph; we study how the structure of the graph affects the long time behavior of the…
Stochastic multiplicative dynamics characterize many complex natural phenomena such as selection and mutation in evolving populations, and the generation and distribution of wealth within social systems. Population heterogeneity in…
Decision procedures aggregating the preferences of multiple agents can produce cycles and hence outcomes which have been described heuristically as `chaotic'. We make this description precise by constructing an explicit dynamical system…