Herd behavior in a complex adaptive system

Herd behavior in a complex adaptive system.

In order to survive, self-serving agents in various kinds of complex adaptive systems (CASs) must compete against others for sharing limited resources with biased or unbiased distribution by conducting strategic behaviors. This competition can globally result in the balance of resource allocation. As a result, most of the agents and species can survive well. However, it is a common belief that ...

Editorial: Behavior and Mind as a Complex Adaptive System on Behalf Of: International Society of Adaptive Behavior Editorial: Behavior and Mind as a Complex Adaptive System

Editorial: Behavior and Mind as a Complex Adaptive System

Analysis of Decision-making Behavior Based on Complex Adaptive System

This paper focuses on the decision-making behavior based on the complex adaptive system. Firstly, the paper reviewed the related work of the complex adaptive system and the edge of chaos in complex systems in different fields. Secondly, a general decision model of an agent is established and the condition that an agent is just at the edge of chaos is defined. Thirdly, making use of Langton’s co...

Herd Behavior in a Laboratory Financial Market

We study herd behavior in a laboratory Þnancial market where a sequence of subjects trades an asset whose value is unknown. In two treatments the price is updated according to a deterministic rule based on the order ßow, and in another it is updated by experimental participants. Theory predicts that agents should never herd. Our experimental results are in line with this prediction. Nevertheles...