Conservation payment schemes, typically spatially homogenous, are widely used to induce biodiversity-friendly land use. They can also address habitat fragmentation if a bonus is added to the homogenous base payment when conservation measures are implemented next to other conserved lands....

The research presented in this Technical Report investigates how large language models (LLMs), through their extensive training and transcend linguistic capabilities, emerge as reservoirs of a vast array of human experiences, behaviours, and emotions. Building upon prior work of the JRC on...

This study proposes a logical Petri net model to leverage the modeling advantages of Petri nets in handling batch processing and uncertainty in value passing and to integrate relevant game elements from multi-agent game processes for modeling multi-agent decision problems and resolving...

In 2017 Robert Shiller, a Nobel Laureate, introduced Narrative Economics, an approach to explaining aspects of economies that are difficult to comprehend when analyzed using conventional methods: in light of narratives (i.e., stories) that participants in asset markets hear, believe, and tell...

This paper reports first results and analysis from an accurate agent-based model of a contemporary financial exchange populated by automated trading systems that use a combination of real-time machine learning and longer-term optimization methods in an. attempt to continuously improve their...

This paper reports results and analysis from simulation experiments in which a population of adaptive automated traders compete with one another and co-evolve their trading behaviors on a high-fidelity model of a contemporary electronic financial exchange. The automated traders are all using the...