Emergent Specializations in a Commodity Market: A Multi-Agent Model—Graduate Student Best Paper Award, CASOS 2001 Conference

Maksim Tsvetovat () and Kathleen M. Carley ()
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Maksim Tsvetovat: Carnegie Mellon University
Kathleen M. Carley: Carnegie Mellon University

Computational and Mathematical Organization Theory, 2002, vol. 8, issue 3, No 3, 234 pages

Abstract: Abstract It has been observed in many instances that markets have a tendency to segment themselves into distinct sub-markets. This paper presents a multi-agent model that illustrates emergent market segmentation. The model illustrates the way local optimization processes result in an emergent global improvement of social welfare.

Keywords: multi-agent systems; social networks; markets; computational modeling; emergent behavior; self-organizing systems (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (1)

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DOI: 10.1023/A:1020719614091

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