A modified version of a finite random field Ising ferromagnetic model in an external magnetic field at zero temperature is presented to describe group decision making. Fields may have a non-zero average. A postulate of minimum inter-individual conflicts is assumed. Interactions then produce a...

The origins of Sociophysics are discussed from a personal testimony. I trace back its history to the late 1970s. My 20 years of activities and research to establish and promote the field are reviewed. In particular, the conflicting nature of Sociophysics with the physics community is revealed...

Behavioral finance has become an increasingly important subfield of finance. However the main parts of behavioral finance, prospect theory included, understand financial markets through individual investment behavior. Behavioral finance thereby ignores any interaction between participants. We...

The dynamics of wine purchasing behavior is studied focusing on the respective impacts of the word-to-mouth versus wine expert judgements and reputations. To investigate the problem we apply the Galam model of opinion dynamics to agents who have to select a preference about which type of wine to...

We study the effect of inflexible agents on two state opinion dynamics. The model operates via repeated local updates of random grouping of agents. While floater agents do eventually flip their opinion to follow the local majority, inflexible agents keep their opinion always unchanged. It is a...

Background: Since the attribution of the Nobel prize in 2002 to Kahneman for prospect theory, behavioral finance has become an increasingly important subfield of finance. However the main parts of behavioral finance, prospect theory included, understand financial markets through individual...

Background: Since the attribution of the Nobel prize in 2002 to Kahneman for prospect theory, behavioral finance has become an increasingly important subfield of finance. However the main parts of behavioral finance, prospect theory included, understand financial markets through individual...

Background: Since the attribution of the Nobel prize in 2002 to Kahneman for prospect theory, behavioral finance has become an increasingly important subfield of finance. However the main parts of behavioral finance, prospect theory included, understand financial markets through individual...

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...