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Agent-Based Experimental Economics in Signaling Games

In: Complexity and Artificial Markets

Author

Listed:
  • Adolfo López-Paredes

    (Valladolid University)

  • Marta Posada

    (Valladolid University)

  • Cesáreo Hernández

    (Valladolid University)

  • Javier Pajares

    (Valladolid University)

Abstract

In this paper we built up an agent-based model inspired by human-subject behaviour in a signaling game experiment. The behavioural patterns of players observed in the experiment are classified in terms of attitudes, emotions and frugal and fast heuristics. We build up an agent-based model where artificial agents are endowed with these cognitive patterns by means of an endorsement scheme. We show the relationship between cognition and Multi-Agent interaction. We validate the model since it reproduces well the behavioural patterns observed in the human-subjects experiment.

Suggested Citation

  • Adolfo López-Paredes & Marta Posada & Cesáreo Hernández & Javier Pajares, 2008. "Agent-Based Experimental Economics in Signaling Games," Lecture Notes in Economics and Mathematical Systems, in: Klaus Schredelseker & Florian Hauser (ed.), Complexity and Artificial Markets, chapter 10, pages 121-129, Springer.
    • Handle: RePEc:spr:lnechp:978-3-540-70556-7_10
    DOI: 10.1007/978-3-540-70556-7_10
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    Cited by:

    1. Soyoung Kim & Junseok Hwang & Jorn Altmann, 2012. "Dynamic Scenarios of Trust Establishment in the Public Cloud Service Market," TEMEP Discussion Papers 201298, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Jun 2012.

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