Who should be charged with responsibility for an artificial intelligence performing market manipulation have been discussed. In this study, I constructed an artificial intelligence using a genetic algorithm that learns in an artificial market simulation, and investigated whether the artificial...

This paper studies how shocks to the social network can have aggregate effects. First, using daily consumption data across counties over the COVID-19 pandemic and Facebook's Social Connectedness Index (SCI), we find that a 10% rise in SCI-weighted cases and deaths is associated with a 0.18% and...

Stock market has been a complex system which has been difficult to predict for humans, thereby, making the trading decisions difficult to take. It will be useful for traders if there is a model agent which can learn the stock market trends and suggest trading decisions which in turn maximizes...

Civil conflicts are frequently accompanied by significant political dynamics of state integration and disintegration. Despite substantial methodological advancement in the conflict literature, there have been few attempts at incorporating these dynamics into a formal analysis of conflict. In...

It is very difficult to discuss about changing financial market regulations and/or rules by only using results of empirical studies. An artificial market, which is a kind of an agent-based model, can isolate the pure contribution of changing the regulations to the price formation and can treat...

We characterize environments having a representative agent: an agent whose preferences over aggregate alternatives correspond to a weighted average of the population's utilities for the disaggregated alternatives. The existence of a representative agent imposes strong restrictions on individual...

We consider the general problem of a set of agents trading a portfolio of assets in the presence of transient price impact and additional quadratic transaction costs and we study, with analytical and numerical methods, the resulting Nash equilibria. Extending significantly the framework of...

In “Coordination of Supply Chains with Risk-Averse Agents” (POMS, Volume 13, 2004), we study the issue of coordination in supply chains involving risk-averse agents, and define a coordinating contract as one that results in a Pareto-optimal solution acceptable to each agent. We then develop...

This paper considers an implementation problem with bounded rationality of the agents. Bounded rationality presented here means that the agent might choose the agent's best response which is different from the agent's dominant strategy. To describe such a behavior, this paper introduces a new...

This study quantifies the economic effect of a possible lockdown of Tokyo to prevent spread of COVID-19. The negative effect of the lockdown may propagate to other regions through supply chains because of shortage of supply and demand. Applying an agent-based model to the actual supply chains of...