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User Jean-Daniel Kant
title How multi-agent systems can be good for Behavioral Economics : a case study

Authors J.-D. Kant et D. Domingue
Source SABE International Conference on Behavioural Economics
Year 2007
Type Conference
Type of publication ISC-PIF scholar

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Abstract In this work, we underline the benefit of techniques derived from distributed artificial intelligence, i.e. multi-agent systems, to the study of economical behavior. It aims to focus on the level of individual behaviors, as a bottom-up approach to understand the rise of economical phenomena like price fluctuation within a financial market or volatility within a labor market.
In this paper, we propose an agent-based model of human decision making: CODAGE (Cognitive Decision AGEnt). In the CODAGE model, the decision maker is modeled by an entire multi-agent system, where each agent is in charge a particular sub-process of the whole decision. The architecture is intended to be as generic as possible. It could be viewed as an agent-based decision framework, in which different decision heuristics and biases could be implemented. We illustrate this approach with a simulation of a small experimental financial market, for which our model was able to replicate some human decision behaviors.
Created Friday 29 April, 2011 15:31:10