Diks, Cees; Hommes, Cars; Zeppini, Paolo - In: Physica A: Statistical Mechanics and its Applications 392 (2013) 4, pp. 808-812
We show that an increase of memory of past strategy performance in a simple agent-based innovation model, with agents … destabilising. As memory in the fitness measure increases, the amplitude of price fluctuations decreases, but at the same time a … that the map obtained for the system with memory is a convex combination of an increasing linear function and a decreasing …