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We introduce an agent-based model of delegation relationships between a principal and an agent, which is based on the standard-hidden action model introduced by Holmstr\"om and, by doing so, provide a model which can be used to further…
Empirical distributions of wealth and income can be reproduced using simplified agent-based models of economic interactions, analogous to microscopic collisions of gas particles. Building upon these models of freely interacting agents, we…
Lattice-based random walk models are widely used to study populations of migrating cells with motility bias and proliferation. Crowding is typically represented by volume exclusion, where each lattice site can be occupied by at most one…
Tax evasion, usually the largest component of an informal economy, is a persistent challenge over history with significant socio-economic implications. Many socio-economic studies investigate its dynamics, including influencing factors, the…
We derive a system of stochastic differential equations simulating the dynamics of the three agent groups with herding interaction. Proposed approach can be valuable in the modeling of the complex socio-economic systems with similar…
We develop a model of the behaviour of a dynamically optimizing economic agent who makes consumption-saving and spatial relocation decisions. We formulate an existence result for the model, derive the necessary conditions for optimality and…
In most major cities and urban areas, residents form homogeneous neighborhoods along ethnic or socioeconomic lines. This phenomenon is widely known as residential segregation and has been studied extensively. Fifty years ago, Schelling…
In this paper, we tackle the problem of innovation spreading from a modeling point of view. We consider a networked system of individuals, with a competition between two groups. We show its relation to the innovation spreading issues. We…
In this paper, we investigate the economic mobility in some money transfer models which have been applied into the research on wealth distribution. We demonstrate the mobility by recording the time series of agents' ranks and observing…
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…
We present our approach to the problem of how an agent, within an economic Multi-Agent System, can determine when it should behave strategically (i.e. learn and use models of other agents), and when it should act as a simple price-taker. We…
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…
There are numerous scenarios in which populations of cells migrate in crowded environments. Typical examples include wound healing, cancer growth and embryo development. In these crowded environments cells are able to interact with each…
This essay discusses the advantages of a probabilistic agent-based approach to questions in theoretical economics, from the nature of economic agents, to the nature of the equilibria supported by their interactions. One idea we propose is…
International migration implies the coexistence of different ethnic and cultural groups in the receiving country. The refugee crisis of 2015 has resulted in critical levels of opinion polarization on the question of whether to welcome…
International migration is now a significant driver of population change across Europe but the methods available to estimate its true impact upon sub-national areas remain inconsistent, constrained by inadequate systems of measurement and…
Involution, a phenomenon of excessive competition with diminishing returns, has become a pressing socio-economic concern in contemporary China, prompting both academic inquiry and policy interventions. This paper proposes an evolutionary…
We analyze the dynamics of a forecasting game which exhibits the phenomenon of information cascades. Each agent aims at correctly predicting a binary variable and he/she can either look for independent information or herd on the choice of…
We propose a model for the diffusion of several products competing in a common market based on the generalization of the Ising model of statiscal mechanics (Potts model). Using an agent based implementation, we analyze two problems: (i) a…
The existence of stylized facts in financial data has been documented in many studies. In the past decade the modeling of financial markets by agent-based computational economic market models has become a frequently used modeling approach.…