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Emergence of heterogeneity in an agent-based model

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  • Wan Abdullah, Wan Ahmad Tajuddin

Abstract

We study an interacting agent model of a game-theoretical economy. The agents play a minority-subsequently-majority game and they learn, using backpropagation networks, to obtain higher payoffs. We study the relevance of heterogeneity to performance, and how heterogeneity emerges.

Suggested Citation

  • Wan Abdullah, Wan Ahmad Tajuddin, 2003. "Emergence of heterogeneity in an agent-based model," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 324(1), pages 311-316.
    • Handle: RePEc:eee:phsmap:v:324:y:2003:i:1:p:311-316
    DOI: 10.1016/S0378-4371(02)01887-3
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    Cited by:

    1. Kukacka, Jiri & Barunik, Jozef, 2013. "Behavioural breaks in the heterogeneous agent model: The impact of herding, overconfidence, and market sentiment," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 392(23), pages 5920-5938.

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