Related papers: Small-World Formation via Local Information
In various economic environments, people observe other people with whom they strategically interact. We can model such information-sharing relations as an information network, and the strategic interactions as a game on the network. When…
In this short paper we define the wealth process in a spin model for market microstructure, for individual agents and in aggregate. The agents in our model try to balance their desire to belong to the local majority (herding behavior),…
To investigate the role of information flow in group formation, we introduce a model of communication and social navigation. We let agents gather information in an idealized network society, and demonstrate that heterogeneous groups can…
The emergence and maintenance of cooperation within sizable groups of unrelated humans offer many challenges for our understanding. We propose that the humans' capacity of communication, such as how many and how far away the fellows can…
Among all characteristics exhibited by natural and man-made networks the small-world phenomenon is surely the most relevant and popular. But despite its significance, a reliable and comparable quantification of the question `how small is a…
It is often thought that the existence of other worlds cannot be scientifically verified and therefore should be treated as philosophical speculation. In this article, I describe several methods for determining if other worlds exist, even…
Nestedness is a common property of communication, finance, trade, and ecological networks. In networks with high levels of nestedness, the link positions of low-degree nodes (those with few links) form nested subsets of the link positions…
We study the role of imitation within a model of economics with adaptive agents. The basic ingredients are those of the Minority Game. We add the possibility of local information exchange and imitation of the neighbour's strategy. Imitators…
In human societies opinion formation is mediated by social interactions, consequently taking place on a network of relationships and at the same time influencing the structure of the network and its evolution. To investigate this…
Cities are typical dynamic complex systems that connect people and facilitate interactions. Revealing universal collective patterns behind spatio-temporal interactions between residents is crucial for various urban studies, of which we are…
We present an investment model integrated with trust-reputation mechanisms where agents interact with each other to establish investment projects. We investigate the establishment of investment projects, the influence of the interaction…
Economic ensembles can be modeled as networks of interacting agents whose be-haviors are described in terms of game theory. The evolutionary paradigm has been applied to two-person games to discover strategies in this context.…
Direct reciprocity is a mechanism for the evolution of cooperation in repeated social interactions. According to this literature, individuals naturally learn to adopt conditionally cooperative strategies if they have multiple encounters…
The understanding of long-distance relations between seismic activities has for long been of interest to seismologists and geologists. In this paper we have used data from the world-wide earthquake catalog for the period between 1972 and…
Flocking is a coordinated collective behavior that results from local sensing between individual agents that have a tendency to orient towards each other. Flocking is common among animal groups and might also be useful in robotic swarms. In…
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…
Empirical data on the dynamics of human face-to-face interactions across a variety of social venues have recently revealed a number of context-independent structural and temporal properties of human contact networks. This universality…
We study the role of imitation within the Minority Game model of market. The players can exchange information locally, which leads to formation of groups which act as if they were single players. Coherent spatial areas of rich and poor…
Systems as diverse as genetic networks or the world wide web are best described as networks with complex topology. A common property of many large networks is that the vertex connectivities follow a scale-free power-law distribution. This…
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…