Agent-Based Experimental Economics in Signaling Games

  1. Adolfo López-Paredes 1
  2. Marta Posada 1
  3. Cesáreo Hernández 1
  4. Javier Pajares 1
  1. 1 Valladolid INSISOC, Valladolid University
Book:
Complexity and Artificial Markets

Publisher: Klaus Schredelseker

ISBN: 9783540705567

Year of publication: 2008

Pages: 121-129

Type: Book chapter

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Abstract

In this paper we built up an agent-based model inspired by human-subject behaviour in a signaling game experiment. The behavioural patterns of players observed in the experiment are classified in terms of attitudes, emotions and frugal and fast heuristics. We build up an agent-based model where artificial agents are endowed with these cognitive patterns by means of an endorsement scheme. We show the relationship between cognition and Multi-Agent interaction. We validate the model since it reproduces well the behavioural patterns observed in the human-subjects experiment.

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