Related papers: Micro-bias and macro-performance
Annotating large collections of textual data can be time consuming and expensive. That is why the ability to train models with limited annotation budgets is of great importance. In this context, it has been shown that under tight annotation…
Engaging with dissenting views, fostering productive disagreements or strategic anticonformity can benefit organizations as it challenges the status quo. The question arises, however, whether such strategic anticonformity ultimately leads…
When a collection of phenotypically diverse organisms compete with each other for limited resources, with competition being strongest amongst the most similar, the population can evolve into tightly localised clusters. This process can be…
It is known that individual opinions on different policy issues often align to a dominant ideological dimension (e.g. "left" vs. "right") and become increasingly polarized. We provide an agent-based model that reproduces these two stylized…
We present examples of agent-based and stochastic models of competition and business processes in economics and finance. We start from as simple as possible models, which have microscopic, agent-based, versions and macroscopic treatment in…
A local culture denotes a commonly shared behaviour within a cluster of firms. Similar to social norms or conventions, it is an emergent feature resulting from the firms' interaction in an economic network. To model these dynamics, we…
When using machine learning for imbalanced binary classification problems, it is common to subsample the majority class to create a (more) balanced training dataset. This biases the model's predictions because the model learns from data…
Amidst the rapid normalization of generative artificial intelligence (GAI), intelligent systems have come to dominate political discourse across information media. However, internalized political biases stemming from training data skews,…
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…
A collective of identical agents in a multi-agent system often works together towards the common goal. In situations where no supervisor agents are present to make decisions for the group, these agents must achieve some consensus via…
The Schelling model of segregation looks to explain the way in which a population of agents or particles of two types may come to organise itself into large homogeneous clusters, and can be seen as a variant of the Ising model in which the…
This paper addresses mechanisms for boundedly rational decision makers in discrete choice problem. First, we introduce two mathematical models of population dynamics with conformity biases. We next analyze the models in terms of…
We study the role of imitation within the Minority Game model of market. The players can exchange information locally, which leads to formation of groups which act as if they were single players. Coherent spatial areas of rich and poor…
The formation of agents' opinions in a social system is the result of an intricate equilibrium among several driving forces. On the one hand, the social pressure exerted by peers favours the emergence of local consensus. On the other hand,…
Institutions play a critical role in enabling communities to manage common-pool resources and avert tragedies of the commons. However, a fundamental issue arises: Individuals typically perceive participation as advantageous only after an…
Considering some predictive mechanisms, we show that ultrafast average-consensus can be achieved in networks of interconnected agents. More specifically, by predicting the dynamics of the network several steps ahead and using this…
Multi-agent complex systems comprising populations of decision-making particles, have many potential applications across the biological, informational and social sciences. We show that the time-averaged dynamics in such systems bear a…
Collective leadership and herding may arise in standard models of opinion dynamics as an interplay of a strong separation of time scales within the population and its hierarchical organization. Using the voter model as a simple opinion…
The quality of governance of institutions, corporations and countries depends on the ability of efficient decision making within the respective boards or cabinets. Opinion formation processes within groups are size dependent. It is often…
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…