An Emotional Perspective for Agent-Based Computational Economics

Abstract

In this work, we present an analytical model of hyper-inflated economies and develop a computational model that permits us to consider expectations of the levels of future prices following emotional rules and strategies. We take into account communications among agents by adding a feedback rule. To consider emotions in agents, we use the Plutchik psycho-evolutionary theory of emotions to design an agent-based emotional architecture based on the attack-escape strategy. The computational model is based on a Barabàsi-Albert Network and considers the diffusion of information and the diffusion of emotions among agents.