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Anonymous online business environments have a social dilemma situation in it. A dilemma on whether to cooperate or Defect. Defection by a buyer to seller and/or seller to buyer might give each a better profit at the cost of the loss of…
Recent research in industrial organisation has investigated the essential place that middlemen have in the networks that make up our global economy. In this paper we attempt to understand how such middlemen compete with each other through a…
We run experimental asset markets to investigate the emergence of excess trading and the occurrence of synchronised trading activity leading to crashes in the artificial markets. The market environment favours early investment in the risky…
Human behavioural patterns exhibit selfish or competitive, as well as selfless or altruistic tendencies, both of which have demonstrable effects on human social and economic activity. In behavioural economics, such effects have…
We investigate the dynamics of a trust game on a mixed population where individuals with the role of buyers are forced to play against a predetermined number of sellers, whom they choose dynamically. Agents with the role of sellers are also…
The unprecedented access offered by the World Wide Web brings with it the potential to gather huge amounts of data on human activities. Here we exploit this by using a toy model of financial markets, the Minority Game (MG), to investigate…
As more and more social robots are being used for collaborative activities with humans, it is crucial to investigate mechanisms to facilitate trust in the human-robot interaction. One such mechanism is humour: it has been shown to increase…
Human behavior is a dynamic process that evolves with experience. Understanding the evolution of individual's risk propensity is critical to design public health interventions to propitiate the adoption of better biosecurity protocols and…
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…
Most online platforms strive to learn from interactions with users, and many engage in exploration: making potentially suboptimal choices for the sake of acquiring new information. We study the interplay between exploration and competition:…
Many online marketplaces enjoy great success. Buyers and sellers in successful markets carry out cooperative transactions even if they do not know each other in advance and a moral hazard exists. An indispensable component that enables…
Cooperative behaviors are common in humans and are fundamental to our society. Theoretical and experimental studies have modeled environments in which the behaviors of humans, or agents, have been restricted to analyze their social…
The construction of reciprocal relationships requires cooperative interactions during the initial meetings. However, cooperative behavior with strangers is risky because the strangers may be exploiters. In this study, we show that people…
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…
We consider thin incomplete financial markets, where traders with heterogeneous preferences and risk exposures have motive to behave strategically regarding the demand schedules they submit, thereby impacting prices and allocations. We…
This study provides a practical introduction to high-frequency trading in blockchain-based currency markets. These types of markets have some specific characteristics that differentiate them from the stock markets, such as a large number of…
This paper reviews an experiment in human-computer interaction, where interaction takes place when humans attempt to teach a computer to play a strategy board game. We show that while individually learned models can be shown to improve the…
All people have to make risky decisions in everyday life. And we do not know how true they are. But is it possible to mathematically assess the correctness of our choice? This article discusses the model of decision making under risk on the…
Most papers about the evolutionary game on graph assume the statistic network structure. However, social interaction could change the relationship of people. And the changing social structure will affect the people's strategy too. We build…
We examine behavior in an experimental collaboration game that incorporates endogenous network formation. The environment is modeled as a generalization of the voluntary contributions mechanism. By varying the information structure in a…