Showing 1 - 10 of 11
We study the implications of social interactions and individual learning features on consumer demand in a simple market model. We consider a social system of interacting heterogeneous agents with learning abilities. Given a fixed price, agents repeatedly decide whether or not to buy a unit of a...
Persistent link: https://www.econbiz.de/10010873710
In this paper, we consider a discrete choice model where heterogeneous agents are subject to mutual influences. We explore some consequences on the market's behaviour, in the simplest case of a uniform willingness to pay distribution. We exhibit a first-order phase transition in the profit...
Persistent link: https://www.econbiz.de/10010871719
We explore the effects of social influence in a simple market model in which a large number of agents face a binary choice: to buy/not to buy a single unit of a product at a price posted by a single seller (monopoly market). We consider the case of positive externalities: an agent is more...
Persistent link: https://www.econbiz.de/10005495786
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We introduce a simple agent-based model which allows us to analyze three stylized facts: a fat-tailed size distribution of companies, a ‘tent-shaped’ growth rate distribution, the scaling relation of the growth rate variance with firm size, and the causality between them. This is achieved...
Persistent link: https://www.econbiz.de/10010871875
Statistical mechanics is used to derive a new learning rule for a feed-forward neural network with one hidden layer. Generalization to multilayer neural networks is straightforward, and proceeds in the same way as backpropagation.
Persistent link: https://www.econbiz.de/10010586953
Addressing issues of social diversity, we introduce a model of housing transactions between agents who are heterogeneous in their willingness to pay. A key assumption is that agents' preferences for a location depend on both an intrinsic attractiveness and on the social characteristics of the...
Persistent link: https://www.econbiz.de/10010871030
We consider the properties of multi-class neural networks, where each neuron can be in several different states. The motivations for considering such systems are manifold. In image processing for example, the different states correspond to the different grey tone levels. Another multi-class...
Persistent link: https://www.econbiz.de/10010874927
The social sciences study knowing subjects and their interactions. A "cognitive turn", based on cognitive science, has the potential to enrich these sciences considerably. Cognitive economics belongs within this movement of the social sciences. It aims to take into account the cognitive...
Persistent link: https://www.econbiz.de/10013518526