Byoung-Tak Zhang Dept. of Computer Engineering Seoul National University Seoul 151-7 42, Korea [email protected] We study the evolution of herding behavior of multiple autonomous mobile robotic agents. Agents are cloned to form a homogeneous team. Cooperation strategies for a team of the robots are represented in a neural network. An evolutionary algorithm is used to evolve the neural netw...

Honor cultures have often been associated with herding societies in the anthropological literature. This has led Nisbett and Cohen (1996) to conflate the honor psychology they describe in their book Culture of Honor with the pastoral personality that was documented in earlier anthropological studies of herding societies. I argue that although honor psychology and pastoral personality appear ver...

This paper investigates how friendship relationships act as pipes, prisms, and herding signals in a large online, peer-to-peer (P2P) lending site. By analyzing decisions of lenders, we find that friends of the borrower, especially close offline friends, act as financial pipes by lending money to the borrower. On the other hand, the prism effect of friends’ endorsements via bidding on a loan neg...

In this paper we extend the herding attacks for concatenated hash functions, i.e., hash functions of the form h(x) = h1(x)||h2(x). Our results actually apply a much larger set of hash functions. We show that even when the compression function of h(·) can be written as two (or more) data paths, where one data path is not affected by the second (while the second may depend on the first), then the...

We characterize optimal strategies in a simple herding model where observations have a small cost. We assume that there are two states and two possible signals that each agent may get. The prior distribution is biased towards adopting behavior. That is ex-ante adopting gives a higher expected utility than not adopting. Contrary to Kultti & Miettinen (2005) herding does not arise deterministical...

We investigate asset returns using the concept of beta herding, which measures cross-sectional variations in betas due to changes investors’ confidence about their market outlook. Overconfidence causes herding (compression towards beta), while under-confidence leads adverse (dispersion from beta). show that low-beta anomaly can be explained by a return reversal following as high stocks underper...

The PNAS article by Stiner et al. (1), “A forager–herder trade-off, from broad-spectrum hunting to sheep management at Aşıklı Höyük, Turkey,” adds a major new element to our evidence for—and understanding of— the appearance of the first animal herding in southwest Asia, involving the earliest management of caprines (managed caprines including sheep and goat), as well as an important methodologi...