Decision making on fitness landscapes

R. Arthur and P. Sibani

Physica A: Statistical Mechanics and its Applications, 2017, vol. 471, issue C, 696-704

Abstract: We discuss fitness landscapes and how they can be modified to account for co-evolution. We are interested in using the landscape as a way to model rational decision making in a toy economic system. We develop a model very similar to the Tangled Nature Model of Christensen et al. that we call the Tangled Decision Model. This is a natural setting for our discussion of co-evolutionary fitness landscapes. We use a Monte Carlo step to simulate decision making and investigate two different decision making procedures.

Keywords: Agent-based modelling; Fitness landscape; Complexity economics; NK model; Tangled nature model (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:471:y:2017:i:c:p:696-704

DOI: 10.1016/j.physa.2016.12.068

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