Related papers: Games in rigged economies
The very notion of social network implies that linked individuals interact repeatedly with each other. This allows them not only to learn successful strategies and adapt to them, but also to condition their own behavior on the behavior of…
We analyze, both analytically and numerically, the self-organization of a system of "selfish" adaptive agents playing an arbitrary iterated pairwise game (defined by a 2X2 payoff matrix). Examples of possible games to play are: the…
Economy is demanding new models, able to understand and predict the evolution of markets. To this respect, Econophysics offers models of markets as complex systems, that try to comprehend macro-, system-wide states of the economy from the…
Platform giants in China have operated with persistently compressed margins in highly concentrated markets for much of the past decade, despite market shares exceeding 60\% in core segments. Standard theory predicts otherwise: either the…
Inspired by Adam Smith and Friedrich Hayek, many economists have postulated the existence of invisible forces that drive economic markets. These market forces interact in complex ways making it difficult to visualize or understand the…
Increasing urbanization and exacerbation of sustainability goals threaten the operational efficiency of current transportation systems and confront cities with complex choices with huge impact on future generations. At the same time, the…
Public Goods Games represent one of the most useful tools to study group interactions between individuals. However, even if they could provide an explanation for the emergence and stability of cooperation in modern societies, they are not…
Economic interdependencies have become increasingly present in globalized production, financial and trade systems. While establishing interdependencies among economic agents is crucial for the production of complex products, they may also…
Evolutionary game theory is one of the key paradigms behind many scientific disciplines from science to engineering. Previous studies proposed a strategy updating mechanism, which successfully demonstrated that the scale-free network can…
With increasing game size, a problem of computational complexity arises. This is especially true in real world problems such as in social systems, where there is a significant population of players involved in the game, and the complexity…
Many networks are used to transfer information or goods, in other words, they are navigated. The larger the network, the more difficult it is to navigate efficiently. Indeed, information routing in the Internet faces serious scalability…
We investigate, at the fundamental level, the questions of `why', `when' and `how' one could or should reach out to poor and vulnerable people to support them in the absence of governmental institutions. We provide a simple and new approach…
The vast majority of products we use daily are supplied to us through complex global supply chains that transform raw materials into finished goods and distribute them to end consumers. This paper proposes a modeling methodology for dynamic…
We present a simplified model for the exploitation of finite resources by interacting agents, where each agent receives a random fraction of the available resources. An extremal dynamics ensures that the poorest agent has a chance to change…
We study the effectiveness of iterated elimination of strictly-dominated actions in random games. We show that dominance solvability of games is vanishingly small as the number of at least one player's actions grows. Furthermore,…
The game-theoretic risk management framework put forth in the precursor work "Towards a Theory of Games with Payoffs that are Probability-Distributions" (arXiv:1506.07368 [q-fin.EC]) is herein extended by algorithmic details on how to…
The emergence of new communication technologies allows us to expand our understanding of distributed control and consider collaborative decision-making paradigms. With collaborative algorithms, certain local decision-making entities (or…
We study financial systems from a game-theoretic standpoint. A financial system is represented by a network, where nodes correspond to firms, and directed labeled edges correspond to debt contracts between them. The existence of cycles in…
In the context of understanding the nature of the risk transformation process of the financial system we propose an iterative risk-trading game between several agents who build their trading strategies based on a general utility setting.…
Shared autonomy requires principled mechanisms for allocating and transferring control between a human and an autonomous agent. Existing approaches often rely on blending control inputs between human and autonomous agent or switching rules,…