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The Wisdom of Networked Evolving Agents

In: Advances in Artificial Economics

Author

Listed:
  • Akira Namatame

    (National Defense Academy)

Abstract

The fact that selfish behavior may not achieve full efficiency at the aggregate level has been well known in the literature. Therefore we need to cope with the socio-economic system by attempting to stack the deck in such a way that individuals with selfish incentives have to do what is the desirable thing. Of particular interests is the question how social interactions among individuals can be restructured so that they are free to choose their actions while avoiding outcomes that none would have chosen. In this paper, we study the collective construction process of social norms and the emergence of collective intelligence of networked evolving agents. The wisdom of collective agents is interpreted as emergence of behavioral rules that constitute constraints on social interactions so that self-interested agents can achieve efficient and equitable outcomes.

Suggested Citation

  • Akira Namatame, 2006. "The Wisdom of Networked Evolving Agents," Lecture Notes in Economics and Mathematical Systems, in: Charlotte Bruun (ed.), Advances in Artificial Economics, chapter 11, pages 149-165, Springer.
    • Handle: RePEc:spr:lnechp:978-3-540-37249-3_11
    DOI: 10.1007/3-540-37249-0_11
    as

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