By T. Terano, H. Kita, H. Deguchi, K. Kijima
The chapters of this publication are the chosen papers from these offered on the 3rd foreign Workshop on Agent-Based methods in monetary and Social complicated structures held in Tokyo, Japan in 2005. Articles conceal methodological matters, computational model/software, mix with gaming simulation, and real-world functions to financial, management/organizational and social matters.
Read or Download Agent-Based Approaches in Economic and Social Complex Systems IV: Post Proceedings of The AESCS International Workshop 2005 (Springer Series on Agent Based Social Systems) PDF
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Extra info for Agent-Based Approaches in Economic and Social Complex Systems IV: Post Proceedings of The AESCS International Workshop 2005 (Springer Series on Agent Based Social Systems)
The criteria of six decision-making processes Market share. The market share of Asahi transits as: - approximately 10% during 1982-1985, - 15-16% in 1986, and -25-26% during 1987-1992. The transition accommodates to the timings of the success of the new product development and its introduction to the market. Verification of reproducibility. We check the reproducibility of the case of "Asahi Super-Dry" on the developed beer game by simulating a game using agent players. Player 1 (Asahi) is configured as the reference player who enters the correct values for the Asahi's succeeded processes.
The market is characterized by decentralized sequential bargaining through which individuals learn about the prices and quantities available on the market and adapt their behavior as the market evolves. Our interest is unusual, since we want to focus on the nature of interactions and the evolution of the bargaining power, the elements that are as important as the evolution of prices. In that sense, the model reproduces rather well the empirical data, given parameters. The general result is that, in any case, initial values of beliefs and reservation values have little, if no, influence on prices and or the loyalty of buyers.
These two sets of simulations show that, in the long run, systems do not depend on the sellers' initial beliefs. The learning process gives the agents the ability to adapt their beliefs to changes in the environment. This conclusion gives more importance to the data set analyzed in this paper: beforehand, we could have through that the seller, whose data are used, is different from other sellers in experience, and, hence belief. Our model, showing the convergence of beliefs regardless the initial reservation value, could indicate that our seller's data can be considered as representative.