Related papers: Phase coexistence in a forecasting game
A population of heterogenous agents compeeting through a minority rule is investigated. Agents which frequently loose are selected for evolution by changing their strategies. The stationary composition of the population resulting for this…
Resource allocation systems provide the fundamental support for the normal functioning and well being of the modern society, and can be modeled as minority games. A ubiquitous dynamical phenomenon is the emergence of herding, where a vast…
We analyze the accuracy of collective decision-making in socially connected populations, where agents update binary choices through local interactions on a network. Each agent receives a private signal that is biased -- even marginally --…
Observational learning is an important information aggregation mechanism. However, it occasionally leads to a state in which an entire population chooses a sub-optimal option. When it occurs and whether it is a phase transition remain…
Social foraging is a widespread form of animal foraging in which groups of individuals coordinate their decisions to exploit resources in the environment. Animals show a variety of social structures from egalitarian to hierarchical. In this…
Humans and other animals often follow the decisions made by others because these are indicative of the quality of possible choices, resulting in `social response rules': observed relationships between the probability that an agent will make…
Whether in groups of humans or groups of computer agents, collaboration is most effective between individuals who have the ability to coordinate on a joint strategy for collective action. However, in general a rational actor will only…
We study a version of the minority game in which one agent is allowed to join the game in a random fashion. It is shown that in the crowded regime, i.e., for small values of the memory size $m$ of the agents in the population, the agent…
We consider a version of large population games whose players compete for resources using strategies with adaptable preferences. The system efficiency is measured by the variance of the decisions. In the regime where the system can be…
Algorithmic predictions are increasingly informing societal resource allocations by identifying individuals for targeting. Policymakers often build these systems with the assumption that by gathering more observations on individuals, they…
Resource allocation takes place in various types of real-world complex systems such as urban traf- fic, social services institutions, economical and ecosystems. Mathematically, the dynamical process of complex resource allocation can be…
This paper develops a game-theoretic model and an agent-based model to study group formation driven by resource pooling, spatial cohesion, and heterogeneity. We focus on cross-sector partnerships (CSPs) involving public, private, and…
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 describe the results of analytic calculations and computer simulations of adaptive predictors (predictive agents) responding to an evolving chaotic environment and to one another. Our simulations are designed to quantify adaptation and…
Agents with different ideologies often form alliances to achieve their goals. Paradoxically, ideologically similar agents are often opponents. In this paper, ideologically heterogeneous agents choose the ideological composition of their…
More often than not, bad decisions are bad regardless of where and when they are made. Information sharing might thus be utilized to mitigate them. Here we show that sharing the information about strategy choice between players residing on…
We develop an overlapping generations model where each agent observes a verifiable private signal about the state and, with positive probability, also receives signals disclosed by his predecessor. The agent then takes an action and decides…
We define an opinion formation model of agents in a 1d ring, where the opinion of an agent evolves due to its interactions with close neighbors and due to its either positive or negative attitude toward the overall mood of all the other…
This paper considers the problem of offering a scarce object with a common unobserved quality to strategic agents in a priority queue. Each agent has a private signal over the quality of the object and observes the decisions made by other…
In a setting where heterogeneous agents interact to accomplish a given set of goals, cooperation is of utmost importance, especially when agents cannot achieve their individual goals by exclusive use of their own efforts. Even when we…