A market model is presented, in which firms and consumers differ in their market understanding. In the model, rational firms compete in probability distributions over consumers with bounded ability to grasp statistical data. Increased competition causes firms to increase their effort to...

This book reports on the most recent advances in agent technologies for distributed learning. Chapters are devoted to the various aspects of intelligent software agents in distributed learning, including the methodological and technical issues on where and how intelligent agents can contribute...

In arguing that borders not only should be understood as economic barriers to trade, but also <p> as cultural barriers to interaction, this paper attempts to operationalize a broader interpretation of <p> borders with regards to economic cross-cultural integration. Thus, by formalizing the cultural <p>...</p></p></p>

The issue regarding the influence of intelligence on market efficiency has been discussed for a long time. Gode and Sunder (1993) mentioned that the aggregate behavior of zero-intelligence traders is able to generate an efficient market. They introduced two types of markets composed of...

The Schelling Model of Spatial Segregation is a fundamental consumer choice model in the fields of computational and urban economics. In our paper, we unite the research from these two fields to examine if the housing preferences of a heterogeneous population of homeowners lead to Schelling's...