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Wealth transactions are central to economic activity, and their particularities shape macroeconomic outcomes. We propose an agent-based model to investigate how homophily influences economic inequality. The model simulates wealth exchanges…
This study introduces the \emph{edge-based Shapley value}, a novel allocation rule within cooperative game theory, specifically tailored for networked systems, where value is generated through interactions represented by edges. Traditional…
We present a novel agent-based approach to simulating an over-the-counter (OTC) financial market in which trades are intermediated solely by market makers and agent visibility is constrained to a network topology. Dynamics, such as changes…
Human societies engage in a number of games which use tokens as a means to allocate, issue and access gated resources and property rights: The notion of exchanging tokens that represent and carry value from the past into the future to…
Facility location games have been a topic of major interest in economics, operations research and computer science, starting from the seminal work by Hotelling. Spatial facility location models have successfully predicted the outcome of…
A two-player game-theoretic problem on resilient graphs in a multiagent consensus setting is formulated. An attacker is capable to disable some of the edges of the network with the objective to divide the agents into clusters by emitting…
This study is a detailed analysis of Speculation Game, a minimal agent-based model of financial markets, in which the round-trip trading and the dynamic wealth evolution with variable trading volumes are implemented. Instead of herding…
We present an agent-based model of microscopic wealth exchange in a dynamic network to study the topological features associated with economic inequality. The model evolves through two alternating processes, the conservative exchange of…
We study the interpersonal trust of a population of agents, asking whether chance may decide if a population ends up in a high trust or low trust state. We model this by a discrete time, random matching stochastic coordination game. Agents…
We define and analyze a multi-agent multi-armed bandit problem in which decision-making agents can observe the choices and rewards of their neighbors. Neighbors are defined by a network graph with heterogeneous and stochastic…
Axelrod's model for the dissemination of culture combines two key ingredients of social dynamics: social influence, through which people become more similar when they interact, and homophily, which is the tendency of individuals to interact…
Resource competition is a fundamental interaction in natural communities.However little is known about competition in spatial environments where organisms are able to regulate resource distributions. Here, we analyze the competition of two…
The robustness of multiagent systems can be affected by mistakes or behavioral biases (e.g., risk-aversion, altruism, toll-sensitivity), with some agents playing the "wrong game." This can change the set of equilibria, and may in turn harm…
The idea of a collective intelligence behind the complex natural structures built by organisms suggests that the organization of social networks is selected so as to optimize problem-solving competence at the group-level. Here we study the…
This study proposes a distributed algorithm that makes agents' adaptive grouping entrap multiple targets via automatic decision making, smooth flocking, and well-distributed entrapping. Agents make their own decisions about which targets to…
This paper studies the trading volumes and wealth distribution of a novel agent-based model of an artificial financial market. In this model, heterogeneous agents, behaving according to the Von Neumann and Morgenstern utility theory, may…
In this paper we study the controllability of networked systems with static network topologies using tools from algebraic graph theory. Each agent in the network acts in a decentralized fashion by updating its state in accordance with a…
In a housing market of Shapley and Scarf, each agent is endowed with one indivisible object and has preferences over all objects. An allocation of the objects is in the (strong) core if there exists no (weakly) blocking coalition. In this…
We study clustering properties of networks of single integrator nodes over a directed graph, in which the nodes converge to steady-state values. These values define clustering groups of nodes, which depend on interaction topology, edge…
In repeated games, such as auctions, players rely on autonomous learning agents to choose their actions. We study settings in which players have their agents make monetary transfers to other agents during play at their own expense, in order…