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Computer simulations offer a robust toolset for exploring complex systems across various disciplines. A particularly impactful approach within this realm is Agent-Based Modeling (ABM), which harnesses the interactions of individual agents…
We discuss the emerging new opportunity for building feedback-rich computational models of social systems using generative artificial intelligence. Referred to as Generative Agent-Based Models (GABMs), such individual-level models utilize…
In social sciences, researchers often face challenges when conducting large-scale experiments, particularly due to the simulations' complexity and the lack of technical expertise required to develop such frameworks. Agent-Based Modeling…
LLM agents in markets present algorithmic collusion risks. While prior work shows LLM agents reach supracompetitive prices through tacit coordination, existing research focuses on hand-crafted prompts. The emerging paradigm of prompt…
We examine the dynamics of informational efficiency in a market with asymmetrically informed, boundedly rational traders who adaptively learn optimal strategies using simple multiarmed bandit (MAB) algorithms. The strategies available to…
Generative Agent-Based Models (GABMs) powered by large language models (LLMs) offer promising potential for empirical logistics and supply chain management (LSCM) research by enabling realistic simulation of complex human behaviors. Unlike…
Multi-agent debate has proven effective in improving large language models quality for reasoning and factuality tasks. While various role-playing strategies in multi-agent debates have been explored, in terms of the communication among…
The final frontier for simulation is the accurate representation of complex, real-world social systems. While agent-based modeling (ABM) seeks to study the behavior and interactions of agents within a larger system, it is unable to…
Large language models (LLMs) have been widely used as agents to complete different tasks, such as personal assistance or event planning. While most of the work has focused on cooperation and collaboration between agents, little work…
Generative Agent-Based Modeling (GABM) is an emerging simulation paradigm that combines the reasoning abilities of Large Language Models with traditional Agent-Based Modeling to replicate complex social behaviors, including interactions on…
This article explores the dynamic influence of computational entities based on multi-agent systems theory (SMA) combined with large language models (LLM), which are characterized by their ability to simulate complex human interactions, as a…
Agent-based modelling (ABM) is a facet of wider Multi-Agent Systems (MAS) research that explores the collective behaviour of individual `agents', and the implications that their behaviour and interactions have for wider systemic behaviour.…
We introduce a novel hybrid approach that augments Agent-Based Models (ABMs) with behaviors generated by Large Language Models (LLMs) to simulate human trading interactions. We call our model TraderTalk. Leveraging LLMs trained on extensive…
Large Language Models (LLMs) are increasingly being used to simulate human-like decision making in agent-based financial market models (ABMs). As models become more powerful and accessible, researchers can now incorporate individual LLM…
Agent Based Modeling (ABM) has become a widespread approach to model complex interactions. In this chapter after briefly summarizing some features of ABM the different approaches in modeling spatial interactions are discussed. It is…
We conduct experiments with algorithmic pricing agents based on Large Language Models (LLMs). In oligopoly settings, LLM-based pricing agents quickly and autonomously reach supracompetitive prices and profits. Variation in seemingly…
There is growing concern about tacit collusion using algorithmic pricing, and regulators need tools to help detect the possibility of such collusion. This paper studies how to design a hypothesis testing framework in order to decide whether…
In this paper, we consider the problem of providing robustness to adversarial communication in multi-agent systems. Specifically, we propose a solution towards robust cooperation, which enables the multi-agent system to maintain high…
The global economy is one of today's major challenges, with increasing relevance in recent decades. A frequent observation by policy makers is the lack of tools that help at least to understand, if not predict, economic crises. Currently,…
There is an growing interest in using Large Language Models (LLMs) in multi-agent systems to tackle interactive real-world tasks that require effective collaboration and assessing complex situations. Yet, we still have a limited…