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Why Bother with What Others Tell You?: An Experimental Data-Driven Agent-Based Model
University of Pavia, Italy / University of Surrey, UK.
Univ Turin, Italy / GECS Res Grp Expt & Computat Sociol.ORCID iD: 0000-0003-2837-0137
University of Brescia, Italy.
University of Brescia, Italy.
2010 (English)In: JASSS: Journal of Artificial Societies and Social Simulation, ISSN 1460-7425, E-ISSN 1460-7425, Vol. 13, no 3, Article ID: 6- p.Article in journal (Refereed) Published
Abstract [en]

This paper investigates the relevance of reputation to improve the explorative capabilities of agents in uncertain environments. We have presented a laboratory experiment where sixty-four subjects were asked to take iterated economic investment decisions. An agent-based model based on their behavioural patterns replicated the experiment exactly. Exploring this experimentally grounded model, we studied the effects of various reputational mechanisms on explorative capabilities at a systemic level. The results showed that reputation mechanisms increase the agents’ capability for coping with uncertain environments more than individualistic atomistic exploration strategies, although the former does entail a certain amount of false information inside the system.

Place, publisher, year, edition, pages
2010. Vol. 13, no 3, Article ID: 6- p.
National Category
Social Sciences
Research subject
Social Sciences
Identifiers
URN: urn:nbn:se:lnu:diva-28496ISI: 000279344500006OAI: oai:DiVA.org:lnu-28496DiVA: diva2:643236
Available from: 2013-08-26 Created: 2013-08-26 Last updated: 2017-12-06Bibliographically approved

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Bravo, Giangiacomo

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