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

We introduce pricing formulas for competition and collusion models of two-sided markets with an outside option. For the competition model, we find conditions under which prices and consumer surplus may increase or decrease if the outside…

We explore the minimal conditions for sustainable cooperation on a spatially distributed population of memoryless, unconditional strategies (cooperators and defectors) in presence of unbiased, non contingent mobility in the context of the…

Prediction markets are designed to elicit information from multiple agents in order to predict (obtain probabilities for) future events. A good prediction market incentivizes agents to reveal their information truthfully; such incentive…

In many professons employees are rewarded according to their relative performance. Corresponding economy can be modeled by taking $N$ independent agents who gain from the market with a rate which depends on their current gain. We argue that…

Often times, individuals working together as a team can solve hard problems beyond the capability of any individual in the team. Cooperative optimization is a newly proposed general method for attacking hard optimization problems inspired…

We provide simple models for the utility function (or psychology) of an actor trading a multitude of goods for money. In this framework, money has no intrinsic consumption value, but is required as a medium of exchange. A collection of such…

Cooperation is the foundation of ecosystems and the human society, and the reinforcement learning provides crucial insight into the mechanism for its emergence. However, most previous work has mostly focused on the self-organization at the…

Teamwork is vital in many settings, and it is socially beneficial for teams to cooperate in some situations (``good games'') and not in others (``bad games;'' e.g., those that allow for corruption). A team's cooperation in any given game…

We introduce the notion of performative power, which measures the ability of a firm operating an algorithmic system, such as a digital content recommendation platform, to cause change in a population of participants. We relate performative…

This paper is based on the premise that economic growth is driven by an interplay between innovation and imitation in an economy composed of interacting firms operating in a stochastic environment. A novel approach to modeling imitation is…

This paper presents a dynamic model to study the impact on the economic outcomes in different societies during the Malthusian Era of individualism (time spent working alone) and collectivism (complementary time spent working with others).…

We consider a model for the evolution of cooperation in a population where individuals may have one of a number of different heritable and distinguishable markers or tags. Individuals interact with each of their neighbours on a square…

Our wellbeing depends as much on our personal success, as it does on the success of our society. The realization of this fact makes cooperation a very much needed trait. Experiments have shown that rewards can elevate our readiness to…

Dynamics of a social population is analyzed taking into account some physical constraints on individual behavior and decision making abilities. The model, based on Evolutionary Game Theory, predicts that a population has to pass through a…

Spatial structure is one of the simplest and most studied ecological factors that affect the evolution of cooperation. It has been shown that spatial reciprocity promotes cooperation due to the formation of cooperative clusters, which…

An economy, large or small, has traditionally been defined in terms of an explicit set of agents and an assignment of characteristics to each agent. But when individual agents are negligible, most economically relevant properties of an…

Manufacturing systems of the future need to have flexible resources and flexible routing to produce extremely personalized products, even of lot size equal to one. In this paper, we have proposed a framework, which is designed to achieve…

We propose a simple model to explore an educational phenomenon where the correct answer emerges from group discussion. We construct our model based on several plausible assumptions: (i) We tend to follow peers' opinions. However, if a…

We present a simple dynamical model for describing trading interactions between agents in a social network by considering only two dynamical variables, namely money and goods or services, that are assumed conserved over the whole time span…

Advances in artificial intelligence often stem from the development of new environments that abstract real-world situations into a form where research can be done conveniently. This paper contributes such an environment based on ideas…