Related papers: Tit-for-Tat Dynamics and Market Volatility
A generalized continuous economic model is proposed for random markets. In this model, agents interact by pairs and exchange their money in a random way. A parameter controls the effectiveness of the transactions between the agents. We show…
The biased interaction game described the operation of systems rooted in boundedly rational interactions under conditions of scarcity. The game explored the influence of bias and demonstrated how hierarchy and inequality are emergent system…
In this work we study spin-glass (SG) like behavior in the dynamics of multiple agents in a social or economic context using interactions which are similar to the physical case. The different preferences shown by individual agents are…
This paper presents a novel study on gas-like models for economic systems. The interacting agents and the amount of exchanged money at each trade are selected with different levels of randomness, from a purely random way to a more chaotic…
Players are arranged on a regular lattice and coded with a specific strategy for a pre-defined game. Each player sums their payoffs from playing the game with each of their neighbors, and then adopts the strategy of the most successful…
The real world is awash with multi-agent problems that require collective action by self-interested agents, from the routing of packets across a computer network to the management of irrigation systems. Such systems have local incentives…
A dynamical model of capital exchange is introduced in which a specified amount of capital is exchanged between two individuals when they meet. The resulting time dependent wealth distributions are determined for a variety of exchange…
Established already in the Biblical times, the Matthew effect stands for the fact that in societies rich tend to get richer and the potent even more powerful. Here we investigate a game theoretical model describing the evolution of…
Imitation dynamics for population games are studied and their asymptotic properties analyzed. In the considered class of imitation dynamics - that encompass the replicator equation as well as other models previously considered in…
Data sharing issues pervade online social and economic environments. To foster social progress, it is important to develop models of the interaction between data producers and consumers that can promote the rise of cooperation between the…
Cooperation in heterogeneous groups, where individuals differ in resources, productivity, and behavioural responsiveness, underpins collective action across many social and biological systems. Introspection dynamics, in which each player…
When individuals interact in groups, the evolution of cooperation is traditionally modeled using the framework of public goods games. These models often assume that the return of the public good depends linearly on the fraction of…
Any collection can be ranked. Sports and games are common examples of ranked systems: players and teams are constantly ranked using different methods. The statistical properties of rankings have been studied for almost a century in a…
Competitive equilibrium is a central concept in economics with numerous applications beyond markets, such as scheduling, fair allocation of goods, or bandwidth distribution in networks. Computation of competitive equilibria has received a…
The law of proportionate growth simply states that the time dependent change of a quantity $x$ is proportional to $x$. Its applicability to a wide range of dynamic phenomena is based on various assumptions for the proportionality factor,…
Modern socio-technical systems typically consist of many interconnected users and competing service providers, where notions like market equilibrium are tightly connected to the ``evolution'' of the network of users. In this paper, we model…
We introduce a system of kinetic equations describing an exchange market consisting of two populations of agents (dealers and speculators) expressing the same preferences for two goods, but applying different strategies in their exchanges.…
We introduce a game in which two players with opposing objectives seek to repeatedly takeover a common resource. The resource is modeled as a discrete time dynamical system over which a player can gain control after spending a…
The main focus of this work is to understand the dynamics of non regulated markets. The present model can describe the dynamics of any market where the pricing is based on supply and demand. It will be applied here, as an example, for the…
We study the evolution of cooperation in the spatial prisoner's dilemma game, where besides unconditional cooperation and defection, tit-for-tat, win-stay-lose-shift and extortion are the five competing strategies. While pairwise imitation…