We explore the effects of social influence in a simple market model in which a large number of agents face a binary choice: 'to buy/not to buy' a single unit of a product at a price posted by a single seller (the monopoly case). We consider the case of 'positive externalities': an agent is more...

In this paper, we consider a discrete choice model where heterogeneous agents are subject to mutual influences. We explore some consequences on the market's behaviour, in the simplest case of a uniform willingness to pay distribution. We exhibit a first-order phase transition in the profit...

The present paper discusses implications for Agent-based Computational Economics (ACE) of a formal definition of emergence introduced by Dessalles, Phan in part I of this work. This exemplification is based on an extension of the model of emergence of classes by Axtell et al. The present paper...

This paper provides a formal definition of emergence, operative in multi-agent framework and which make sense from both a cognitive and an economics point of view. The first part discuses the ontological and epistemic dimension of emergence and provides a complementary set of definitions....