Control of the socio-economic systems using herding interactions

Aleksejus Kononovicius and Vygintas Gontis

Papers from arXiv.org

Abstract: 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 the control of the collective behavior of the individuals. In this contribution we consider a simple agent-based herding model modified to include agents with controlled state. We show that in certain case even the smallest fixed number of the controlled agents might be enough to control the behavior of a very large system.

Date: 2013-09, Revised 2014-02
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Citations: View citations in EconPapers (5)

Published in Physica A 405, pp. 80-84, 2014

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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:1309.6105

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