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Robustness of critical points in a complex adaptive system: Effects of hedge behavior |
Yuan Liang梁源1,2, Ji-Ping Huang黄吉平1( ) |
| 1. Department of Physics and State Key Laboratory of Surface Physics, Fudan University, Shanghai 200433, China; 2. Department of Physics, College of Science, Donghua University, Shanghai 201602, China |
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Abstract In our recent papers, we have identified a class of phase transitions in the market-directed resourceallocation game, and found that there exists a critical point at which the phase transitions occur. The critical point is given by a certain resource ratio. Here, by performing computer simulations and theoretical analysis, we report that the critical point is robust against various kinds of human hedge behavior where the numbers of herds and contrarians can be varied widely. This means that the critical point can be independent of the total number of participants composed of normal agents, herds and contrarians, under some conditions. This finding means that the critical points we identified in this complex adaptive system (with adaptive agents) may also be an intensive quantity, similar to those revealed in traditional physical systems (with non-adaptive units).
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| Keywords
complex adaptive system
phase transition
resource allocation
hedge behavior
agentbased simulation
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Corresponding Author(s):
Ji-Ping Huang黄吉平,Email:jphuang@fudan.edu.cn
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Issue Date: 01 August 2013
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