participants - 12th Edition Artificial Economics Rome 20th-21st September 2016

12th Artificial Economics Conference
co-located with Social Simulation Conference


Paper submission: April 18th 2016

Acceptance notification: June 6th 2016

Early registration: July 15th 2016


20th-21st September 2016

The Coconut Model with Adaptive Strategies

Sven Banisch and Eckehard Olbrich


We continue our development of an agent-based baseline model for the Coconut Model by Peter Diamond and report on the achievements. 
While dealing with fixed but heterogeneous strategies in the Talk presented last year, we now concentrate on learning dynamics. 
Namely, we introduce temporal difference learning as a way to procedurally solve the optimization problem as posed in the original paper. 
We show that the model with this kind of adaptive agents converges to a considerable degree to the original theoretical results for an infinite and homogeneously adapting population in terms of learning dynamics alone as well as regarding the overall model behavior. 
Conclusions regarding non-equilibrium trajectories and equilibrium selection can be drawn from that.