Related papers: Cooperativity in a trading model with memory and p…

We have studied here the self-organising features of the dynamics of a model market, where the agents `trade' for a single commodity with their money. The model market consists of fixed numbers of economic agents, money supply and…

The key characteristic of a true free market economy is that exchanges are entirely voluntary. When there is a monopoly in the creation of currency as we have in today's markets, you no longer have a true free market. Features of the…

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…

We consider a simple model of rational agents competing in a single product market described by simple linear demand curve. Contrary to accepted economic theory, the agents' production levels synchronise in the absence of conscious…

We introduce and study a model of an interacting population of agents who collaborate in groups which compete for limited resources. Groups are formed by random matching agents and their worth is determined by the sum of the efforts…

Cooperation is observed widely in nature and is thought an essential component of many evolutionary processes, yet the mechanisms by which it arises and persists are still unclear. Among several theories, network reciprocity -- a model of…

Cooperation is ubiquitous ranging from multicellular organisms to human societies. Population structures indicating individuals' limited interaction ranges are crucial to understand this issue. But it is still at large to what extend…

In this work we have used computer models of social-like networks to show by extensive numerical simulations that cooperation in evolutionary games can emerge and be stable on this class of networks. The amounts of cooperation reached are…

We study a lattice model of ``commons'', where a resource is shared locally among the agents of various cooperative tendency. The payoff function of an agent is proportional to the fraction of his operation rate and the net output of the…

Loyal buyer-seller relationships can arise by design, e.g. when a seller tailors a product to a specific market niche to accomplish the best possible returns, and buyers respond to the dedicated efforts the seller makes to meet their needs.…

Indirect reciprocity is a foundational mechanism of human cooperation. Existing models of indirect reciprocity fail to robustly support social cooperation: image scoring models fail to provide robust incentives, while social standing models…

In our multi-agent model agents generate wealth from repeated interactions for which a prisoner's dilemma payoff matrix is assumed. Their gains are taxed by a government at a rate $\alpha$. The resulting budget is spent to cover…

Sharing economy is a transformative socio-economic phenomenon built around the idea of sharing underused resources and services, e.g. transportation and housing, thereby reducing costs and extracting value. Anticipating continued reduction…

Understanding the evolutionary stability of cooperation is a central problem in biology, sociology, and economics. There exist only a few known mechanisms that guarantee the existence of cooperation and its robustness to cheating. Here, we…

The minority model was introduced to study the competition between agents with limited information. It has the remarkable feature that, as the amount of information available increases, the collective gain made by the agents is reduced.…

This paper is concerned with a model in econophysics, the subfield of statistical physics that applies concepts from traditional physics to economics. In our model, economical agents are represented by the vertices of a connected graph and…

Models of cooperation grounded on social networks and on the ability of individuals to choose actions and partners aim to describe human social behavior. Extensive computer simulations of these models give important insight in the social…

In large groups, every collaborative act requires balancing two pressures: the need to achieve behavioural synchrony and the need to keep free riding to a minimum. This paper introduces a model of collaboration that requires both…

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…

We explore the emergence of cooperation in the framework of evolutionary game theory. First we introduce the cooperation problem in a novel way that we believe it have important consequences in how problem is addressed. Then we present a…