Related papers: Proxyeconomics, the inevitable corruption of proxy…
We consider a setting where agents take action by following their role models in a social network, and study strategies for a social planner to help agents by revealing whether the role models are positive or negative. Specifically, agents…
Recent trends in Agent Computational Economics research, envelop a government agent in the model of the economy, whose decisions are based on learning algorithms. In this paper we try to evaluate the performance of simulated annealing in…
Recommendation systems are widespread, and through customized recommendations, promise to match users with options they will like. To that end, data on engagement is collected and used. Most recommendation systems are ranking-based, where…
This publication reviews the framework of abstract competition, which is aimed at studying complex systems with competition in their generic form. Although the concept of abstract competition has been derived from a specific field -…
Prices in financial markets exhibit extreme jumps far more often than can be accounted for by external news. Further, magnitudes of price changes are correlated over long times. These so called stylized facts are quantified by scaling laws…
I postulate that human or other intelligent agents function or should function as follows. They store all sensory observations as they come - the data is holy. At any time, given some agent's current coding capabilities, part of the data is…
We consider a social choice problem where only a small number of people out of a large population are sufficiently available or motivated to vote. A common solution to increase participation is to allow voters use a proxy, that is, transfer…
Pro-social punishment is a key driver of harmonious and stable society. However, this institution is vulnerable to corruption since law-violators can avoid sanctioning by paying bribes to corrupt law-enforcers. Consequently, to understand…
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,…
The rise of foundation models has driven the emergence of AI supply chains, where upstream foundation model providers offer fine-tuning and inference services to downstream firms developing domain-specific applications. Downstream firms pay…
An agent-based model for firms' dynamics is developed. The model consists of firm agents with identical characteristic parameters and a bank agent. Dynamics of those agents is described by their balance sheets. Each firm tries to maximize…
The present work generalizes the analytical results of Petrikaite (2016) to a market where more than two firms interact. As a consequence, for a generic number of firms in the oligopoly model described by Janssen et al (2005), the…
Prediction markets aggregate agents' beliefs regarding a future event, where each agent is paid based on the accuracy of its reported belief when compared to the realized outcome. Agents may strategically manipulate the market (e.g., delay…
In this paper, we analyze the behavior of a multi-agent system driven by the interactions of agents within a competitive environment. To achieve this, we describe the transition probabilities that underlie the system's stochastic nature. We…
In economic applications, model averaging has found principal use examining the validity of various theories related to observed heterogeneity in outcomes such as growth, development, and trade.Though often easy to articulate, these…
Competition and collaboration are at the heart of multi-agent probabilistic spreading processes. The battle on public opinion and competitive marketing campaigns are typical examples of the former, while the joint spread of multiple…
Although both data availability and the demand for accurate forecasts are increasing, collaboration between stakeholders is often constrained by data ownership and competitive interests. In contrast to recent proposals within cooperative…
Individuals are often influenced by the behavior of others, for instance because they wish to obtain the benefits of coordinated actions or infer otherwise inaccessible information. In such situations this social influence decreases the ex…
Participation incentives is a well-known issue inhibiting randomized controlled trials (RCTs) in medicine, as well as a potential cause of user dissatisfaction for RCTs in online platforms. We frame this issue as a non-standard…
A network effect is introduced taking into account competition, cooperation and mixed-type interaction amongst agents along a generalized Verhulst-Lotka-Volterra model. It is also argued that the presence of a market capacity enforces an…