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Bayesian Exploration with Heterogeneous Agents [PDF]
It is common in recommendation systems that users both consume and produce information as they make strategic choices under uncertainty. While a social planner would balance "exploration" and "exploitation" using a multi-armed bandit algorithm, users' incentives may tilt this balance in favor of exploitation.
Nicole Immorlica +3 more
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The paper introduces the methodology of the overlapping generations models with heterogeneous agents and aggregate uncertainty - macroeconomic, stochastic general equilibrium models that account for consumer heterogeneity mainly with respect to age and ...
Jan Acedański
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Relative Extinction of Heterogeneous Agents [PDF]
In all the existing literature on survival in heterogeneous economies, the rate at which an agent vanishes in the long run relative to another agent can be characterized by the difference of the so-called survival indices, where each survival index ...
Cvitanić, Jakša, Malamud, Semyon
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AbstractIn this article, we present a multiagent system (MAS) simulation of a financial market and investigate the requirements to obtain realistic data. The model consists of autonomous, interactive agents that buy stock on a financial market. Transaction decisions are based on a number of individual and collective elements, the former being risk ...
Luc Neuberg, Koen Bertels
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Dynamic Coalition Task Allocation of Heterogeneous Multiple Agents
The dynamic coalition task allocation of heterogeneous multiple UAV agents is researched, which is divided into two parts. Firstly, the consensus based coalition algorithm(CBCA) is presented via consensus based bundle algorithm(CBBA), considering complex
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Limitations of stabilizing effects of fundamentalists: facing positive feedback traders
The authors analyze financial interactions between chartists with bounded leverage and fundamentalists within a heterogeneous agent model, focusing on the role of fundamentalists to stabilize prices.
Baumann Michael Heinrich +2 more
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Heterogeneous-Agent Reinforcement Learning
The necessity for cooperation among intelligent machines has popularised cooperative multi-agent reinforcement learning (MARL) in AI research. However, many research endeavours heavily rely on parameter sharing among agents, which confines them to only homogeneous-agent setting and leads to training instability and lack of convergence guarantees.
Zhong, Yifan +5 more
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Hybrid Distributed Optimization for Learning Over Networks With Heterogeneous Agents
This paper considers distributed optimization for learning problems over networks with heterogeneous agents having different computational capabilities.
Mohammad H. Nassralla +2 more
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Commodities, Financialization, and Heterogeneous Agents [PDF]
The term 'financialization' describes the phenomenon that commodity contracts are traded for purely financial reasons and not for motives rooted in the real economy. Recently, financialization has been made responsible for causing adverse welfare effects especially for low-income and low-wealth agents, who have to spend a large share of their income ...
Branger, Nicole +2 more
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Unemployment in South Africa has reached crisis proportions and does not seem to be decreasing in concurrence with the more propitious economic reality. Indeed, the unemployment process seems to be isolated from economic reality and has developed a life ...
Christie Schoeman, Phillip Blaauw
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