4,926 research outputs found
Individual tradable permit market and traffic congestion: An experimental study
This paper investigates the potential of an individual tradable permit system in an experimental two-sided repeated double auction market to overcome over-consumption through road demand management. The evaluation of this system shows that traders exhibit strong dependence on reservation price and there are significant transfers of permit from low value users to high value users. During peak hours, the permit price increases owing to high demand, so the cost of using the road is high during congestion. This creates incentive for low value drivers to postpone their trips and resell permits in the peak hours to gain profit. The results show the delayer pays principle, in which drivers who value highly have to pay drivers who are willing to stay off the road during peak hours.: Individual tradable permit, Congestion, High value and low value drivers, Allocative efficiency
Evolutionary Concept, Genetic Algorithm and Exhibition Contract in Movie Industry
The paper is about application of evolutionary concept, particularly the application of natural selection process, to the study of movie industry. The importance of the application is that it allows for the heterogeneity and interdependency of market agents in analyzing the economic choice decision. This complexity always presents an obstacle to the study of market behavior, especially when one has to take into account the constant reinforcing effects among the variables, which often renders the problem elusive. The paper intends to explain the economic process, taking into account this complexity through the use of evolutionary concept.Evolutionary selection; opportunity costs; learning and sharing rule
Evolutionary Concept, Genetic Algorithm and Exhibition Contract in Movie Industry
The paper is about application of evolutionary concept, particularly the application of natural selection process, to the study of movie industry. The importance of the application is that it allows for the heterogeneity and interdependency of market agents in analyzing the economic choice decision. This complexity always presents an obstacle to the study of market behavior, especially when one has to take into account the constant reinforcing effects among the variables, which often renders the problem elusive. The paper intends to explain the economic process, particularly the evolution of exhibition contract, taking into account this complexity through the use of evolutionary concept.Evolutionary selection; opportunity costs; learning and sharing rule
Learning to be Biased
We simulate societal opinion dynamics when there is confirmation bias in information gathering and spread. If decision making is influenced by confirmation bias, the agent puts more weight on positive information to confirm hypothesis or reservation in the learning process, which renders selectivity in information gathering. If the utility discovered post purchase is low, it is externalized rather than internalized (i.e., self blame) for the selectivity of information. This causes the agent to outweigh the negative information. These two mechanisms are simulated to investigate the societal opinion dynamics and explain behavioral patterns such as overconfidence, stickiness of response and ``success breeds success" phenomenon.Confirmation bias; Opinion percolation and convergence; Selectivity in information search; Hypothesis testing
Inconsistency of fairness evaluation in simulated labot market.
Reciprocal behavior was often explained by perception of fairness derived from either agents’ intention or distributional outcome. In this paper, we demonstrated that fairness perception depended on the evaluability of the partner’s type. We conducted experiments to investigate how workers formed fairness perception on the employers. We found inconsistency in fairness evaluation in the two simulated worker-employer relations; workers derived fairness by comparing own wage with market wage in a one shot interaction, but workers derived fairness based on current and previous wage when interacting with same employer. The reversal of fairness perception suggested the role of evaluability of partners’ attribute in effort decision among workers.Preference reversal; reciprocity; gift exchange; evaluability hypothesis;experiment.
Recommended from our members
Viral hijacking of cellular metabolism.
This review discusses the current state of the viral metabolism field and gaps in knowledge that will be important for future studies to investigate. We discuss metabolic rewiring caused by viruses, the influence of oncogenic viruses on host cell metabolism, and the use of viruses as guides to identify critical metabolic nodes for cancer anabolism. We also discuss the need for more mechanistic studies identifying viral proteins responsible for metabolic hijacking and for in vivo studies of viral-induced metabolic rewiring. Improved technologies for detailed metabolic measurements and genetic manipulation will lead to important discoveries over the next decade
Pre-play communication in Cournot competition: An experiment with students and managers
This study investigates the impact of pre-play communication on the outcomes in Cournot duopoly and triopoly experiments, using both students and managers as subjects. Communication is implemented by two different devices, a 'standardized-communication' and a free-communication device. We find that the effect of communication on collusion is larger in duopoly than in triopoly. Moreover, managers behave in a similar way under the two communication devices, while students are more influenced by the free-communication than by the standardized-communication device. In addition, managers select lower aggregate quantities than students, and communication enhances the difference between the subject pools in duopoly but reduces this difference in triopoly. Inspecting individual behavior, in all treatments the output adjustment is significantly correlated with the previous round's best response strategy. In the treatments with communication, the effect of imitation becomes larger and crowds out the effect of myopic best response. Finally, in all treatments duopoly results in more collusion than triopoly. --artefactual field experiment,subject pools,Cournot oligopoly,managers,cheap talk
Deterministic Adoption in Movie Industry
In this paper, we investigate the decision making process by movie goers. Under incomplete information environment, movie goers will have to learn the quality of the movie from the information relayed by predecessors. The hypothesis is formed by the movie goers when the movie is first released, and it is then compared to information received. In this environment, movie goers will constantly upgrade the belief system, or discard the weaker ones if found to be not consistent with the overall quality information received. Thus, positive news relayed in the initial stage will be magnified to greater importance; the movie becomes a hit. We model this deterministic adoption with first order difference equation. We find that the Hit movies exhibit higher deterministic adoption behavior and the relationship between current and previous adoptions can last longer, than if the movie is a flop. The time path or orbit of the dynamic growth also exhibits non-oscillatory behavior and converge to equilibrium level quickly; when the deterministic adoption mechanism loses its strength, the subsequent adoptions will eventually die off. In other words, the previous adoptions cannot determine the future adoptions. Although this behavior is present in both Hit and Non-hit movies, this diminishing mechanism is triggered in much earlier stage in Non-hit movies than it is in Hit movies.
AN EFFICIENT SEGMENTATION ALGORITHM FOR ENTITY INTERACTION
The inventorying of biological diversity and studies in biocomplexity require the management of large electronic datasets of organisms. While species inventory has adopted structured electronic databases for some time, the
computer modelling of the functional interactions between biological entities at all levels of life is still in the stage of development. One of the challenges for this type of modelling is the biotic interactions that occur between large datasets of entities represented as computer algorithms. In real-time simulation that models the biotic interactions of large population datasets, the use of computational processing time could be extensive. One way of increasing the efficiency of such simulation is to partition the landscape so that entities need only traverse its local space for entities that falls within the interaction proximity. This article presents an efficient segmentation algorithm for biotic
interactions for research related to the modelling and simulation of biological systems
Managers and Students Playing Cournot: Experimental Evidence from Malaysia
We report results from a Cournot triopoly experiment with different subject pools: German students, Malaysian students, and Malaysian managers. While German students play Nash, we reject the hypothesis that both Malaysian students and managers select the Nash quantity. Moreover, Malaysian managers perform significantly less competitively than Malaysian students. Finally, the affect of gender is opposite for German and Malaysian subjects. --artefactual field experiment,subject pools,Cournot oligopoly,managers,non-cooperative behavior
- …