Agent-based simulation (ABS) is an approach to modeling systems comprised of individual,
autonomous, interacting “agents.” Agent-based modeling offers ways to more easily model …

In the last two decades, power systems have experienced several changes, mainly related
to organizational and operational restructuring. The appearance of new actors contributes to …

In the face of the upcoming 30th anniversary of econophysics, we review our contributions
and other related works on the modeling of the long-range memory phenomenon in …

We analyze the scaled voter model, which is a generalization of the noisy voter model with
time-dependent herding behavior. We consider the case when the intensity of herding …

We are looking for the agent-based treatment of the financial markets considering necessity
to build bridges between microscopic, agent based, and macroscopic, phenomenological …

Abstract Systems with long-range interactions often exhibit power-law distributions and can
by described by the non-extensive statistical mechanics framework proposed by Tsallis. In …

We propose a Markov jump process with the three-state herding interaction. We see our
approach as an agent-based model for the financial markets. Under certain assumptions this …

In this work, we propose an order book model with herd behavior. The proposed model is
built upon two distinct approaches: a recent empirical study of the detailed order book …

Collective behavior of the complex socio-economic systems is heavily influenced by the
herding, group, behavior of individuals. The importance of the herding behavior may enable …

Under certain circumstances such as lack of information or bounded rationality, human
players can take decisions on which strategy to choose in a game on the basis of simple …