Related papers: Games in rigged economies
This paper describes a basic model of a gift economy in the shape of a Giving Game and reveals the fundamental structure of such a game. Main result is that the game shows a community effect in that a small subgroup of players eventually…
As robots become more prevalent, the complexity of robot-robot, robot-human, and robot-environment interactions increases. In these interactions, a robot needs to consider not only the effects of its own actions, but also the effects of…
Crime is an economically important activity, sometimes called the industry of crime. It may represent a mechanism of wealth distribution but also a social and economic charge because of the cost of the law enforcement system. Sometimes it…
This paper develops a formal framework to assess policies of learning algorithms in economic games. We investigate whether reinforcement-learning agents with collusive pricing policies can successfully extrapolate collusive behavior from…
We study a new kind of non-zero-sum stochastic differential game with mixed impulse/switching controls, motivated by strategic competition in commodity markets. A representative upstream firm produces a commodity that is used by a…
We consider multi-agent decision making where each agent optimizes its convex cost function subject to individual and coupling constraints. The constraint sets are compact convex subsets of a Euclidean space. To learn Nash equilibria, we…
The emergence of cooperation figures among the main goal of game theory in competitive-cooperative environments. Potential games have long been hinted as viable alternatives to study realistic player behavior. Here, we expand the potential…
We broaden the basis of non-cooperative game theory by considering miscoordination on a solution concept. For any solution concept, we extend the solution set of a strategic-form game to a transition set. This set contains profiles where…
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…
In this paper we extend the investigation of cooperation in some classical evolutionary games on populations were the network of interactions among individuals is of the scale-free type. We show that the update rule, the payoff computation…
Coordination games have been of interest to game theorists, economists, and ecologists for many years to study such problems as the emergence of local conventions and the evolution of cooperative behavior. Approaches for understanding the…
In the present paper a model of a market consisting of real and financial interacting sectors is studied. Agents populating the stock market are assumed to be not able to observe the true underlying fundamental, and their beliefs are biased…
Social and economic inequality is a plague of the XXI Century. It is continuously widening, as the wealth of a relatively small group increases and, therefore, the rest of the world shares a shrinking fraction of resources. This situation…
Open data, as an essential element in the sustainable development of the digital economy, is highly valued by many relevant sectors in the implementation process. However, most studies suppose that there are only data providers and users in…
A simple generative model of a foraging society generates significant wealth inequalities from identical agents on an equal opportunity landscape. These inequalities arise in both equilibrium and non-equilibrium regimes with some societies…
In recent years, there has been growing interest in studying games on multiplex networks that account for interactions across linked social contexts. However, little is known about how potential cross-context interference, or spillover, of…
Evolutionary game theory is a powerful mathematical framework to study how intelligent individuals adjust their strategies in collective interactions. It has been widely believed that it is impossible to unilaterally control players'…
Optimistic rollups are a popular and promising method of increasing the throughput capacity of their underlying chain. These methods rely on economic incentives to guarantee their security. We present a model of optimistic rollups that…
When modeling robot interactions as Nash equilibrium problems, it is desirable to place coupled constraints which restrict these interactions to be safe and acceptable (for instance, to avoid collisions). Such games are continuous with…
Learning in games provides a powerful framework to design control policies for self-interested agents that may be coupled through their dynamics, costs, or constraints. We consider the case where the dynamics of the coupled system can be…