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We present examples of agent-based and stochastic models of competition and business processes in economics and finance. We start from as simple as possible models, which have microscopic, agent-based, versions and macroscopic treatment in…
This chapter aims at reviewing complex networks models and methods that were either developed for or applied to socioeconomic issues, and pertinent to the theme of New Economic Geography. After an introduction to the foundations of the…
Traditional notions of production function do not consider the time dimension, appearing thus timeless and instantaneous. We propose an agent-based model accounting for the whole production side of the economy to unfold the production…
This paper presents an agent-based model of mobility choice, influenced by human factors such as habits and perception biases. It is implemented in a Netlogo simulator, calibrated from results of an online survey about perceptions of…
This paper studies the trading volumes and wealth distribution of a novel agent-based model of an artificial financial market. In this model, heterogeneous agents, behaving according to the Von Neumann and Morgenstern utility theory, may…
Deciphering travel behavior and mode choices is a critical aspect of effective urban transportation system management, particularly in developing countries where unique socio-economic and cultural conditions complicate decision-making.…
We investigate knowledge exchange among commercial organisations, the rationale behind it and its effects on the market. Knowledge exchange is known to be beneficial for industry, but in order to explain it, authors have used high level…
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…
While the use of spatial agent-based and individual-based models has flourished across many scientific disciplines, the complexities these models generate are often difficult to manage and quantify. This research reduces population-driven,…
Individual traffic significantly contributes to climate change and environmental degradation. Therefore, innovation in sustainable mobility is gaining importance as it helps to reduce environmental pollution. However, effects of new ideas…
We introduce an auto-regressive model which captures the growing nature of realistic markets. In our model agents do not trade with other agents, they interact indirectly only through a market. Change of their wealth depends, linearly on…
We study the behaviour of a Schelling-class system in which a fraction $f$ of spatially-fixed switching agents is introduced. This new model allows for multiple interpretations, including: (i) random, non-preferential allocation…
The purpose of this paper is to present a new approach to ecological model calibration -- an agent-based software. This agent works on three stages: 1- It builds a matrix that synthesizes the inter-variable relationships; 2- It analyses the…
Looks at state interactions from an agent based AI perspective to see state interactions as an example of emergent intelligent behavior. Exposes basic principles of game theory.
In this paper, we analyze the behavior of a multi-agent system driven by the interactions of agents within a competitive environment. To achieve this, we describe the transition probabilities that underlie the system's stochastic nature. We…
We study a dynamical Ising model of agents' opinions (buy or sell) with coupling coefficients reassessed continuously in time according to how past external news (magnetic field) have explained realized market returns. By combining herding,…
Advances in computing power and data availability have led to growing sophistication in mechanistic mathematical models of social dynamics. Increasingly these models are used to inform real-world policy decision-making, often with…
A model of interacting agents, following plausible behavioral rules into a world where the Covid-19 epidemic is affecting the actions of everyone. The model works with (i) infected agents categorized as symptomatic or asymptomatic and (ii)…
We study ghetto formation in a population with natives and immigrants in the framework of the two-dimensional Ising-model with Kawasaki-exchange dynamics. It is the phase structure of the Ising model, the integration speed and the…
Agent-based models have emerged as a promising paradigm for addressing ever increasing complexity of information systems. In its initial days in the 1990s when object-oriented modeling was at its peak, an agent was treated as a special kind…