Evolutionary spatial 2×2 games between heterogeneous agents are analyzed using different variants of cellular automata (CA). Agents play repeatedly against their nearest neighbors 2×2 games specified by a rescaled payoff matrix with two parameters. Each agent is governed by a binary Markovian...

Evolutionary spatial 2×2 games between unconditional agents are analysed introducing several variants of cellular automata (CA).

Vulnerability is registered not by exposure to hazards alone; it also resides in the resilience of the system experiencing the hazard. Resilience (the capacity of a system to absorb recurrent disturbances, such as natural disasters, so as to retain essential structures, processes and feedbacks)...

This article employs Agent-Based Computational Economics (ACE) to investigate whether, and under what conditions, trust is viable in markets. The emergence and breakdown of trust is modeled in a context of multiple buyers and suppliers. Agents develop trust in a partner as a function of observed...

In this paper, we extended Minority Game (MG) by equipping agents with both value and trend strategies. In the new model, agents (we call them strong-adaptation agents) can autonomically select to act as trend trader or value trader when they game and learn in system. So the new model not only...

This chapter surveys work on dynamic heterogeneous agent models (HAMs) in economics and finance. Emphasis is given to simple models that, at least to some extent, are tractable by analytic methods in combination with computational tools. Most of these models are behavioral models with boundedly...

Economies are complicated systems encompassing micro behaviors, interaction patterns, and global regularities. Whether partial or general in scope, studies of economic systems must consider how to handle difficult real-world aspects such as asymmetric information, imperfect competition,...

The minority game (MG), which is intrinsically associated with financial markets, is an agent-based model of a competing population with limited resources. We find that the fluctuation features of MG in crowded region are more similar to real market than that of in perfect cooperation region. So...

The self-organization in cooperative regimes in a simple mean-field version of a model based on “selfish” agents which play the Prisoner's Dilemma (PD) game is studied. The agents have no memory and use strategies not based on direct reciprocity nor “tags”. Two variables are assigned to...