The unprecedented access offered by the World Wide Web brings with it the potential to gather huge amounts of data on human activities. Here we exploit this by using a toy model of financial markets, the Minority Game (MG), to investigate human speculative trading behaviour and information...

In this essay we show that the reflexivity principle can be extended to account for many economic phenomena; in fact it plays an essential role in a new theory that may rival mainstream economics.

Using the minority game model we study a broad spectrum of problems of market mechanism. We study the role of different types of agents: producers, speculators as well as noise traders. The central issue here is the information flow: producers feed in the information whereas speculators make it...

Collaborative tags are playing a more and more important role for the organization of information systems. In this paper, we study a personalized recommendation model making use of the ternary relations among users, objects and tags. We propose a measure of user similarity based on his...

We present a model for the supply-demand law with quality and limited information capability. We postulate that imperfect information permeates in almost all economic transactions to varying degrees. Through a simple model we outline a research agenda that re-examines many standard issues in...

We study the role of active and passive investors in an investment market with uncertainties. Active investors concentrate on a single or a few stocks with a given probability of determining the quality of them. Passive investors spread their investment uniformly, resembling buying the market...

In this paper, by taking into account effects of the user and object correlations on a heat conduction (HC) algorithm, a weighted heat conduction (WHC) algorithm is presented. We argue that the edge weight of the user–object bipartite network should be embedded into the HC algorithm to measure...

Minority games where groups of agents remember, react or incorporate information with different timescales are investigated. We support our findings by analytical arguments whenever possible.

We analyze some voting models mimicking online evaluation systems intended to reduce the information overload. The minimum number of operations needed for a system to be effective is analytically estimated. When herding effects are present, linear preferential attachment marks a transition...

Personalized recommender systems are confronting great challenges of accuracy, diversification and novelty, especially when the data set is sparse and lacks accessorial information, such as user profiles, item attributes and explicit ratings. Collaborative tags contain rich information about...