Optimal Effort in Heterogeneous Agents Population with Global and Local Interactions

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Abstract

A game where agents interact in small teams is proposed; the interaction is examined when the population consists of different types of agent and a rewardmechanism devised to increase competition is introduced. We prove that such a mechanism may expand the set of Nash equilibria and, in particular, reduce the production level of some agents. Finally, we extend our results to heterogeneous populations by means of agents based modeling. This way we can study the dynamics of adjustment of agents response and extend our results when considering local interaction and a egocentric knowledge of the population composition.

Keywords

Bounded rationality , Mathematical Organization Theory , Public Goods , Heterogeneous agents , Agent Based Simulation
  • Arianna Dal Forno Statistics and Applied Mathematics Department, University of Torino, Corso Unione Sovietica 218/bis, Turin, I-10134, Italy.
  • Ugo Merlone Statistics and Applied Mathematics Department, University of Torino, Corso Unione Sovietica 218/bis, Turin, I-10134, Italy.
  • Pages: 15–36
  • Date Published: 2009-05-01
  • Vol. 11 No. 2 (2009): CUBO, A Mathematical Journal

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Published

2009-05-01

How to Cite

[1]
A. Dal Forno and U. Merlone, “Optimal Effort in Heterogeneous Agents Population with Global and Local Interactions”, CUBO, vol. 11, no. 2, pp. 15–36, May 2009.

Issue

Vol. 11 No. 2 (2009): CUBO, A Mathematical Journal

Section

Articles