Related papers: How does informational heterogeneity affect the qu…
Individual choices are either based on personal experience or on information provided by peers. The latter case, causes individuals to conform to the majority in their neighborhood. Such herding behavior may be very efficient in aggregating…
A broad set of empirical phenomenon in the study of social, economic and machine behaviour can be modelled as complex systems with averaging dynamics. However many of these models naturally result in consensus or consensus-like outcomes. In…
We focus on the influence of external sources of information upon financial markets. In particular, we develop a stochastic agent-based market model characterized by a certain herding behavior as well as allowing traders to be influenced by…
Natural and artificial collectives exhibit heterogeneities across different dimensions, contributing to the complexity of their behavior. We investigate the effect of two such heterogeneities on collective opinion dynamics: heterogeneity of…
Interactions between people are the basis on which the structure of our society arises as a complex system and, at the same time, are the starting point of any physical description of it. In the last few years, much theoretical research has…
Exploring the internal mechanism of information spreading is critical for understanding and controlling the process. Traditional spreading models often assume individuals play the same role in the spreading process. In reality, however,…
We consider a social system of interacting heterogeneous agents with learning abilities, a model close to Random Field Ising Models, where the random field corresponds to the idiosyncratic willingness to pay. Given a fixed price, agents…
We study an interacting agent model of a game-theoretical economy. The agents play a minority-subsequently-majority game and they learn, using backpropagation networks, to obtain higher payoffs. We study the relevance of heterogeneity to…
We provide a comprehensive examination of the predictive performance of panel forecasting methods based on individual, pooling, fixed effects, and empirical Bayes estimation, and propose optimal weights for forecast combination schemes. We…
The heterogeneity of the influence processes is an important feature of social systems: how we perceive social influence and how we influence other individuals is heavily influenced by our opinion and non-opinion attributes. The latter…
Collective action and group formation are fundamental behaviors among both organisms cooperating to maximize their fitness, and people forming socioeconomic organizations. Researchers have extensively explored social interaction structures…
In the early stages of human life, babies develop their skills by exploring different scenarios motivated by their inherent satisfaction rather than by extrinsic rewards from the environment. This behavior, referred to as intrinsic…
We investigate the impact of an exogenous environment on the emergence of social herding of economic sentiment. An interactions-driven dynamics of economic sentiment is modeled by an Ising model on a large (two-dimensional) square lattice.…
Recently, the impacts of spatiotemporal heterogeneities of human activities on spreading dynamics have attracted extensive attention. In this paper, to study heterogeneous response times on information spreading, we focus on the…
Emergent communication offers insight into how agents develop shared structured representations, yet most research assumes homogeneous modalities or aligned representational spaces, overlooking the perceptual heterogeneity of real-world…
Work in cognitive science and artificial intelligence has suggested that exposing learning agents to traces of interaction between multiple individuals can improve performance in a variety of settings, yet it remains unknown which features…
A class of heterogeneous agent models is investigated where investors switch trading position whenever their motivation to do so exceeds some critical threshold. These motivations can be psychological in nature or reflect behaviour…
We study a dynamical Ising model of agents' opinions (buy or sell) with coupling coefficients reassessed continuously in time according to how past external news (magnetic field) have explained realized market returns. By combining herding,…
Adaptive networks consist of a collection of agents with adaptation and learning abilities. The agents interact with each other on a local level and diffuse information across the network through their collaborations. In this work, we…
The influence of a fixed number of agents with the same fixed behavior on the dynamics of the minority game is studied. Alternatively, the system studied can be considered the minority game with a change in the comfort threshold away from…