Control of the socio-economic systems using herding interactions

A. Kononovicius and V. Gontis

Physica A: Statistical Mechanics and its Applications, 2014, vol. 405, issue C, 80-84

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.

Keywords: Collective behavior; Control; Agent-based modeling; Socio-economic systems (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:405:y:2014:i:c:p:80-84

DOI: 10.1016/j.physa.2014.03.003

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