Related papers: Adjustment and social choice
A common assumption in the literature on information diffusion is that populations are homogeneous regarding individuals' information acquisition and propagation process: Individuals update their informed and actively communicating state…
We describe a new model to simulate the dynamic interactions between market price and the decisions of two different kind of traders. They possess spatial mobility allowing to group together to form coalitions. Each coalition follows a…
We consider a social system of interacting heterogeneous agents with learning abilities, a model close to Random Field Ising Models, where the random field corresponds to the idiosyncratic willingness to pay. Given a fixed price, agents…
Agent-based models provide a constructive approach to studying emergent dynamics in life-like systems composed of interacting, adaptive agents. Financial markets serve as a canonical example of such systems, where collective price dynamics…
This paper studies a class of consensus dynamics where the interactions between agents are affected by a time-varying unknown scaling factor. This situation is encountered in the control of robotic fleets over a wireless network or in…
When banks choose similar investment strategies the financial system becomes vulnerable to common shocks. We model a simple financial system in which banks decide about their investment strategy based on a private belief about the state of…
We develop a behavioral asset pricing model in which agents trade in a market with information friction. Profit-maximizing agents switch between trading strategies in response to dynamic market conditions. Due to noisy private information…
An existing model of opinion dynamics on an adaptive social network is extended to introduce update policy heterogeneity, representing the fact that individual differences between social animals can affect their tendency to form, and be…
The question that how cultural variation emerges has drawn lots of interest in sociological inquiry. Sociologists predominantly study such variation through the lens of social contagion, which mostly attributes cultural variation to the…
Since the information available is fundamental for our perceptions and opinions, we are interested in understanding the conditions allowing for a good information to be disseminated. This paper explores opinion dynamics by means of…
In recent years, statistical physics' methodologies have proven extremely successful in offering insights into the mechanisms that govern social interactions. However, the question of whether these models are able to capture trends observed…
Ideas, behaviors, and opinions spread through social networks. If the probability of spreading to a new individual is a non-linear function of the fraction of the individuals' affected neighbors, such a spreading process becomes a "complex…
We study consumption behaviour in systems with heterogeneous interacting agents. Two different models are introduced, respectively with long and short range interactions among agents. At any time step an agent decides whether or not to…
We study a model for social influence in which the agents' opinion is a continuous variable [G. Weisbuch et al., Complexity \textbf{7}, 2, 55 (2002)]. The convergent opinion adjustment process takes place as a result of random binary…
In recent years networks have gained unprecedented attention in studying a broad range of topics, among them in complex systems research. In particular, multi-agent systems have seen an increased recognition of the importance of the…
In this work we study opinion formation on a fully-connected population participating of a public debate with two distinct choices, where the agents may adopt three different attitudes (favorable to either one choice or to the other, or…
The spread of information through socio-technical systems determines which individuals are the first to gain access to opportunities and insights. Yet, the pathways through which information flows can be skewed, leading to systematic…
For a binary choice problem, the spatial coordination of decisions in an agent community is investigated both analytically and by means of stochastic computer simulations. The individual decisions are based on different local information…
We study a family of binary state, socially-inspired contagion models which incorporate imitation limited by an aversion to complete conformity. We uncover rich behavior in our models whether operating with either probabilistic or…
Demonstrations, protests, riots, and shifts in public opinion respond to the coordinating potential of communication networks. Digital technologies have turned interpersonal networks into massive, pervasive structures that constantly…