This is an agent-based model of a simple insurance market with two types of agents: customers and insurers. Insurers set premium quotes for each customer according to an estimation of their underlying risk based on past claims data. Customers either renew existing contracts or else select the cheapest quote from a subset of insurers. Insurers then estimate their resulting capital requirement based on a 99.5% VaR of their aggregate loss distributions. These estimates demonstrate an under-estimation bias due to the winner’s curse effect.

In macroeconomics, an emerging discussion of alternative monetary systems addresses the dimensions of systemic risk in advanced financial systems. Monetary regime changes with the aim of achieving a more sustainable financial system have already been discussed in several European parliaments and were the subject of a referendum in Switzerland. However, their effectiveness and efficacy concerning macro-financial stability are not well-known. This paper introduces a macroeconomic agent-based model (MABM) in a novel simulation environment to simulate the current monetary system, which may serve as a basis to implement and analyze monetary regime shifts. In this context, the monetary system affects the lending potential of banks and might impact the dynamics of financial crises. MABMs are predestined to replicate emergent financial crisis dynamics, analyze institutional changes within a financial system, and thus measure macro-financial stability. The used simulation environment makes the model more accessible and facilitates exploring the impact of different hypotheses and mechanisms in a less complex way. The model replicates a wide range of stylized economic facts, including simplifying assumptions to reduce model complexity.

An ABM, derived from a case study and a series of surveys with greenhouse growers in the Westland, Netherlands. Experiments using this model showshow that the greenhouse horticulture industry displays diversity, adaptive complexity and an uneven distribution, which all suggest that the industry is an evolving system.

AncientS-ABM is an agent-based model for simulating and evaluating the potential social organization of an artificial past society, configured by available archaeological data. Unlike most existing agent-based models used in archaeology, our ABM framework includes completely autonomous, utility-based agents. It also incorporates different social organization paradigms, different decision-making processes, and also different cultivation technologies used in ancient societies. Equipped with such paradigms, the model allows us to explore the transition from a simple to a more complex society by focusing on the historical social dynamics; and to assess the influence of social organization on agents’ population growth, agent community numbers, sizes and distribution.

AncientS-ABM also blends ideas from evolutionary game theory with multi-agent systems’ self-organization. We model the evolution of social behaviours in a population of strategically interacting agents in repeated games where they exchange resources (utility) with others. The results of the games contribute to both the continuous re-organization of the social structure, and the progressive adoption of the most successful agent strategies. Agent population is not fixed, but fluctuates over time, while agents in stage games also receive non-static payoffs, in contrast to most games studied in the literature. To tackle this, we defined a novel formulation of the evolutionary dynamics via assessing agents’ rather than strategies’ fitness.

As a case study, we employ AncientS-ABM to evaluate the impact of the implemented social organization paradigms on an artificial Bronze Age “Minoan” society, located at different geographical parts of the island of Crete, Greece. Model parameter choices are based on archaeological evidence and studies, but are not biased towards any specific assumption. Results over a number of different simulation scenarios demonstrate better sustainability for settlements consisting of and adopting a socio-economic organization model based on self-organization, where a “heterarchical” social structure emerges. Results also demonstrate that successful agent societies adopt an evolutionary approach where cooperation is an emergent strategic behaviour. In simulation scenarios where the natural disaster module was enabled, we observe noticeable changes in the settlements’ distribution, relating to significantly higher migration rates immediately after the modeled Theran eruption. In addition, the initially cooperative behaviour is transformed to a non-cooperative one, thus providing support for archaeological theories suggesting that the volcanic eruption led to a clear breakdown of the Minoan socio-economic system.

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This model demonstrates the spread of collapse through a network. The model is abstract but has many applications in various fields.

Default Initial skill, read ODD for more info. The purpose of the model presented by Salau is to study the ’player profit vs. club benefit’ dilemma present in professional soccer organizations.

Current trends suggest that when individuals of different cultural backgrounds encounter one another, their social categories become entangled and create new hybridized or creole identities.

The model objective’s is to explore the management choice set to uncover which subsets of strategies are most effective at maximizing species coexistence on a fragmented landscape.

We investigate the interplay of homophily, differentiation, and in-group cooperation mechanisms on the formation of opinion clusters and emergence of radical opinions.

An ABM to simulate the spatio-temporal distribution of cyclists across the road network of the city of Salzburg.