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We use game theory and the Santa Fe Artificial Stock Market, an agent-based model of an evolving stock market, to study the properties of strategic Nash equilibria in financial markets. We discover two things: there is a unique strategic equilibrium in the market, and this equilibrium in...
Persistent link: https://www.econbiz.de/10005623644
We investigate the problem of learning to play a generalized rock-paper-scissors game. Each player attempts to improve her average score by adjusting the frequency of the three possible responses. For the zero-sum case the learning process displays Hamiltonian chaos. The learning trajectory can...
Persistent link: https://www.econbiz.de/10005791038
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a number of large extinction events which wiped out a significant fraction of the species on the planet and in some …
Persistent link: https://www.econbiz.de/10005623637
The dynamics of biological populations often appear quite complex, exhibiting considerable year-to-year variation in local abundances. One approach to dealing with ecological complexity is to reduce the system to one or a few species, for which meaningful equations can be written and even...
Persistent link: https://www.econbiz.de/10005790656
recent years. These include the average decline in extinction rates throughout the Phanerozoic, the average increase in … standing diversity, correlations between rates of origination and extinction, and simple laws governing the form of … possible forms of these trends, such as limits on the rate at which extinction may decline and limits on the allowed difference …
Persistent link: https://www.econbiz.de/10005790700
Recently, it has been shown that the power spectrum of extinction intensity during the Phanerozoic takes a power …-law form, which, it is suggested, may indicate the presence of critical phenomena in the dynamics underlying the extinction … average extinction rate during the Phanerozoic. Thus, there is no need to invoke critical phenomena to explain the observed …
Persistent link: https://www.econbiz.de/10005790723
A model of an evolving network of interacting molecular species is shown to exhibit repeated rounds of crashes in which several species get rapidly depopulated, followed by recoveries. The network inevitably self-organizes into an autocatalytic structure, which consists of an irreducible 'core'...
Persistent link: https://www.econbiz.de/10005790727
have important implications in issues like the process of extinction and diversification or in understanding how …
Persistent link: https://www.econbiz.de/10005790751