The paper studies how common codes of artificial language in communication are developed in the laboratory. We find that codes emerging from an environment with more variable spatial positions tend to use a limited set of symbols to represent positions, whereas codes emerging from an environment...

This manuscript proposes a theory of why and when organizations "support" their employees with resources, time, and freedom beyond what seems economically optimal. The idea is that support plays an information generating role in that it renders output more informative about employees' abilities....

In this paper we present a multi-country, multi-industry agent-based model investigating the different growth patterns of interdependent economies. Each country features a Schumpeterian engine of endogenous technical change which interacts with Keyneasian/Kaldorian demand generation mechanisms....

Since 2000, Korea's trade volume with North Africa has increased to over $15 billion and a trade surplus of $7 billion. However recent political unrest across North Africa, especially in Algeria, Morocco and Tunisia, could threaten to significantly impact Korea's trade, investment and diplomatic...

This study seeks to understand the boundary conditions and successful application of search processes in the entrepreneurial problem space. To this end, we employ an agent-based simulation approach to formally investigate the influence of environmental isotropy, unpredictability, and goal...

This paper discusses the use of agent-based simulation models for regulatory advice in electricity market regulation. It briefly introduces the necessary procedures and the state-of-the-art of the methodology, and outlines its possible range of application. In a second part, the paper presents...

The process of electricity production, distribution, and consumption represents a complex system with many heterogeneous characteristics. Physical constraints of the electricity, especially the difficulties with its storage, pose specific challenges on the structure of the power network and the...

In this paper we develop the first agent-based integrated assessment model, which offers an alternative to standard, computable general-equilibrium frameworks. The Dystopian Schumpeter meeting Keynes (DSK) model is composed of heterogeneous firms belonging to capital-good, consumption-good and...

We estimate a generic agent-based model in which agents have heterogeneous beliefs about the future price to see to what extent behaviour differs across assets, and what this implies for market stability. We find evidence for behavioural heterogeneity for all asset classes, except for equities....

Efficiently calibrating agent-based models (ABMs) to real data is an open challenge. This paper explicitly tackles parameter space exploration and calibration of ABMs by combining machine-learning and intelligent iterative sampling. The proposed approach "learns" a fast surrogate meta-model...