2001
DOI: 10.1016/s0378-4371(01)00314-4
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Harms and benefits from social imitation

Abstract: We study the role of imitation within a model of economics with adaptive agents. The basic ingredients are those of the Minority Game. We add the possibility of local information exchange and imitation of the neighbour's strategy. Imitators should pay a fee to the imitated. Connected groups are formed, which act as if they were single players. Coherent spatial areas of rich and poor agents result, leading to the decrease of local social tensions. Size and stability of these areas depends on the parameters of t… Show more

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Cited by 20 publications
(14 citation statements)
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“…If two, or more strategies share the best score, then one of those strategies is picked randomly. Previously, the effects of local information in the MG were studied both with reinforcement learning type [7] and non-reinforcement learning type [8,9,10] of agent communication mechanisms on Kauffman networks [11], and with non-reinforcement learning type of mechanisms on linear chains [9,10].…”
mentioning
confidence: 99%
See 1 more Smart Citation
“…If two, or more strategies share the best score, then one of those strategies is picked randomly. Previously, the effects of local information in the MG were studied both with reinforcement learning type [7] and non-reinforcement learning type [8,9,10] of agent communication mechanisms on Kauffman networks [11], and with non-reinforcement learning type of mechanisms on linear chains [9,10].…”
mentioning
confidence: 99%
“…This network of acquaintances forms the substrate network (G), or skeleton for inter-agent communications [2,7,8,9,10,12]. An edge ab in G means that agents a and b may exchange game-relevant information.…”
mentioning
confidence: 99%
“…This is best illustrated by replotting our data in terms of the collapse function (9), as shown in Figures 7 and 8 which highlights the universal aspects of the behaviour. In particular our form (9) shows how the leadership varies in a universal manner for one type of substrate network as the number of vertices and edges (equivalently N and k s ) changes.…”
Section: Discussionmentioning
confidence: 99%
“…What is clear is that there are relatively minor differences between the random graphs and the scale free graphs, but that there is a fundamental change when working with the regular ring graph. To show this more clearly we plot the data for three different types of graph but with essentially the same number of vertices and edges using the data collapse function (9). The result is shown in Figure 8 and emphasises the differences between the different type of graph.…”
Section: Data Collapsementioning
confidence: 99%
“…The agents who pick the minority resource are rewarded, and those belonging to the majority group are punished due to limited resources. The MG dynamics has been studied extensively in the past 21 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 .…”
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confidence: 99%