Agent Strategies in Economy Market

Agent Strategies in Economy Market

Raymond Chiong (Swineburne University of Technology, Sarawak Campus, Malaysia) and Lubo Jankovic (InteSys Ltd., University of Birmingham Research Park, UK)
Copyright: © 2008 |Pages: 33
DOI: 10.4018/978-1-59904-962-5.ch001
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IThis chapter presents a method on modelling the economy market using agent-based representation and iterated prisoner’s dilemma (IPD). While IPD has been used widely in various economic problems, most of the studies were based on quantitative data which could be deductive and inappropriate. The main objective of this chapter is to present a unique agent based approach which places lower demand on data using IPD to model the complexity of the economy market. We create a simulated market environment with agents acting as firms to perform transactions among each other with chosen IPD strategy. From empirical results, we investigate strategic interactions among different firms. In the concluding remarks, we present our observations on the qualities of a winning strategy.

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Table of Contents
John Foster
Yin Shan, Ang Yang
Chapter 1
Raymond Chiong, Lubo Jankovic
IThis chapter presents a method on modelling the economy market using agent-based representation and iterated prisoner’s dilemma (IPD). While IPD... Sample PDF
Agent Strategies in Economy Market
Chapter 2
Stefano De Luca, Walter Quattrociocchi
In this paper we present a new agent-based model, CDYS – Complex DYnamic System, for intelligent, flexible, and context-aware multi-modal... Sample PDF
Dynamic Contexts and Concepts as a Set of State Variations Under Emerging Functions: A Logical Model for Evolving Ontologies and Autopoietic Multi-Agent Systems
Chapter 3
Cellular Automata  (pages 57-84)
Terry Bossomaier
In this chapter we present a view of cellular automata (CAs) as the quintessential complex system and how they can be used for complex systems... Sample PDF
Cellular Automata
Chapter 4
Adaptive Neurodynamics  (pages 85-111)
Mario Negrello, Martin Huelse, Frank Pasemann
Neurodynamics is the application of Dynamical system’s theory (DST) to the analysis of the structure and function of recurrent neural networks... Sample PDF
Adaptive Neurodynamics
Chapter 5
Nazmun N. Ratna, Anne Dray, Pascal Perez, R. Quentin Grafton, Tom Kompas
In this paper we apply Agent-Based Modelling (ABM) to capture the complexity of the diffusion process depicted in Medical Innovation, the classic... Sample PDF
Innovation Diffusion Among Heterogeneous Agents: Exploring Complexity with Agent-Based Modelling (ABM)
Chapter 6
Teresa Satterfield
Multi-scale “artificial societies” are constructed to examine competing first- and second-language acquisition-based theories of creole language... Sample PDF
Unique Applications of Multi-Agent Models in Uncovering Language Learning Processes
Chapter 7
Paolo Turrini, Mario Paolucci, Rosaria Conte
This chapter presents a theory of reputation seen as the result of evaluation spreading in a multi-agent system (MAS). In particular the capacities... Sample PDF
The Intelligence of Rumors: A Cross-Methodological Approach to Social Belief Dynamics
Chapter 8
Carl Henning Reschke, Sascha Kraus
This chapter sketches a strategic map of a selection of the relevant issues at the intersection of economics, psychology, sociology, and... Sample PDF
Strategic Management, Evolutionary Economics, and Complex Adaptive Systems
Chapter 9
Jan Sudeikat, Wolfgang Renz
Agent Oriented Software-Engineering (AOSE) proposes the design of distributed software systems as collections of autonomous and pro-active actors... Sample PDF
Building Complex Adaptive Systems: On Engineering Self-Organizing Multi-Agent Systems
Chapter 10
Alexander Outkin, Silvio Flaim, Andy Seirp, Julia Gavrilov
We present in this chapter an overview of a financial system model (FinSim) created by the authors at the Los Alamos National Laboratory. The... Sample PDF
FinSim: A Framework for Modeling Financial System Interdependencies
Chapter 11
Kimberly Holloman
The United States and many of its coalition partners have initiated a broad program of reform aimed at transforming their defensive capabilities to... Sample PDF
Complex Adaptive Systems Theory and Military Transformation
Chapter 12
Katia Sycara, Paul Scerri, Anton Chechetka
In this chapter, we explore the use of evolutionary game theory (EGT) (Weibull, 1995; Taylor & Jonker, 1978; Nowak & May, 1993) to model the... Sample PDF
Insights into the Impact of Social Networks on Evolutionary Games
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