HMAE: a high-fidelity multi-agent simulator for economic phenomenon emergence

Economic models based on multi-agents are increasingly attracting attention and can provide a new perspective for exploring the causes behind social phenomena at the individual level. Existing research usually adopts society-level learning methods, and more research on micro-level heterogeneity among individuals is needed. For this, we propose a high-fidelity multi-agent economy (HMAE) model based on evolutionary game theory, including three types of agents: workers, firms, and the government. In particular, we characterize worker heterogeneity regarding laziness factors, work endowments, and commuting distances. These agents continuously and iteratively update their strategies by randomly exploring and imitating their neighbors to maximize their utility value. We simulated the evolution process of agent behavioral decisions through experiments and found that individual heterogeneity can significantly affect the decisions of workers and firms. These phenomena are consistent with some economic evolution trends in real life, and our research can provide an analytical tool for analyzing the causes of emerging economic phenomena.

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Publication Details

Journal
Frontiers in Physics
Published
2024-09-16
DOI
https://doi.org/10.3389/fphy.2024.1451423
Citations
1
Primary Topic
Complex Systems and Time Series Analysis
Type
article
Field-Weighted Citation Impact
1.13

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HMAE: a high-fidelity multi-agent simulator for economic phenomenon emergence

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article

HMAE: a high-fidelity multi-agent simulator for economic phenomenon emergence

Xitong Ma, Honghai Zeng, Xing Jin, Zhen Wang, Chao Wang
article en
1 citations

Abstract

Economic models based on multi-agents are increasingly attracting attention and can provide a new perspective for exploring the causes behind social phenomena at the individual level. Existing research usually adopts society-level learning methods, and more research on micro-level heterogeneity among individuals is needed. For this, we propose a high-fidelity multi-agent economy (HMAE) model based on evolutionary game theory, including three types of agents: workers, firms, and the government. In particular, we characterize worker heterogeneity regarding laziness factors, work endowments, and commuting distances. These agents continuously and iteratively update their strategies by randomly exploring and imitating their neighbors to maximize their utility value. We simulated the evolution process of agent behavioral decisions through experiments and found that individual heterogeneity can significantly affect the decisions of workers and firms. These phenomena are consistent with some economic evolution trends in real life, and our research can provide an analytical tool for analyzing the causes of emerging economic phenomena.

Frontiers in PhysicsVol. 12
Zhejiang Lab (CN), Hangzhou Dianzi University (CN)
National Natural Science Foundation of China, Natural Science Foundation of Zhejiang Province
Openalex Percentile: Top 12%
Complex Systems and Time Series Analysis
1.13
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