Subjective biases and errors systematically affect market equilibria, whether at the population level or in bilateral trading. Here, we consider the possibility that an agent engaged in bilateral trading is mistaken about her own valuation of the good she expects to trade, that has not been explicitly incorporated into the existing bilateral trade literature. Although it may sound paradoxical that a subjective private valuation is something an agent can be mistaken about, as it is up to her to fix it, we consider the case in which that agent, seller or buyer, consciously or not, given the structure of a market, a type of good, and a temporary lack of information, may arrive at an erroneous valuation. The typical context through which this possibility may arise is in relation with so-called experience goods, which are sold while all their intrinsic qualities are still unknown (such as untasted bottled fine wines). We model this “private misvaluation” phenomenon in our study. The agents may also be mistaken about how their exchange counterparties are themselves mistaken. Formally, they attribute a certain margin of error to the other agent, which can differ from the actual way that another agent misvalues the good under consideration. This can constitute the source of a second-order misvaluation. We model different attitudes and situations in which agents face unexpected signals from their counterparties and the manner and extent to which they revise their initial beliefs. We analyse and simulate numerically the consequences of first-order and second-order misvaluation on market equilibria.

A thermostat is a device that allows to have the temperature in a room near a desire value.

This model is a minimal agent-based model (ABM) of green consumption and market tipping dynamics in a stylised two-firm economy. It is designed as an existence proof to illustrate how weak individual preferences, when combined with habit formation, social influence, and firm price adaptation, can generate non-linear transitions (tipping points) in market outcomes.

The economy consists of:
1) Two firms, each supplying a differentiated consumption bundle that differs in its fixed green share (one relatively greener, one less green).
2) Many households, each consuming a unit mass per period and allocating consumption between the two firms.

…

The WaterScape is an agent-based model of the South African water sector. This version of the model focuses on potential barriers to learning in water management that arise from interactions between human perceptions and social-ecological system conditions.

A general model of human mate choice in which agents are localized in space, interact with close neighbors, and tend to range either near or far. At the individual level, our model uses two oft-used but incompletely understood decision rules: one based on preferences for similar partners, the other for maximally attractive partners.

The model simulates flood damages and its propagation through a cooperative, productive, farming system, characterized as a star-type network, where all elements in the system are connected one to each other through a central element.

ThomondSim is a simulation of the political and economic landscape of the medieval kingdom of Thomond, southwestern Ireland, between 1276 and 1318.

Its goal is to analyze how deteriorating environmental and economic conditions caused by the Little Ice Age (LIA), the Great European Famine of 1315-1322, and wars between England and Scotland affected the outcomes of a local war involving Gaelic and English aristocratic lineages.
This ABM attempts to model both the effects of devastation on the human environment and the modus operandi of late-medieval war and diplomacy.

The model is the digital counterpart of the science discovery board game The Triumphs of Turlough. Its procedures closely correspond to the game’s mechanics, to the point that ToT can be considered an interactive, analog version of this ABM.

This is the model for a paper that is based on a simulation model, programmed in Netlogo, that demonstrates changes in market structure that occur as marginal costs, demand, and barriers to entry change. Students predict and observe market structure changes in terms of number of firms, market concentration, market price and quantity, and average marginal costs, profits, and markups across the market as firms innovate. By adjusting the demand growth and barriers to entry, students can […]

This BNE-informed ABM ultimately aims to provide a more realistic description of complicated pedestrian behaviours especially in high-density and life-threatening situations. Bayesian Nash Equilibrium (BNE) was adopted to reproduce interactive decision-making process among rational and game-playing agents. The implementations of 3 behavioural models, which are Shortest Route (SR) model, Random Follow (RF) model, and BNE model, make it possible to simulate emergent patterns of pedestrian behaviours (e.g. herding and self-organised queuing behaviours, etc.) in emergency situations.

According to the common features of previous mass trampling accidents, a series of simulation experiments were performed in space with 3 types of barriers, which are Horizontal Corridors, Vertical Corridors, and Random Squares, standing for corridors, bottlenecks and intersections respectively, to investigate emergent behaviours of evacuees in varied constricted spatial environments. The output of this ABM has been available at https://data.mendeley.com/datasets/9v4byyvgxh/1.

The mode implements a variant of Ant Colony Optimization to explore routing on infrastructures through a landscape with forbidden zones, connecting multiple sinks to one source.