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3. From Ants to Fishing Vessels: A Simple Model for Herding and Exploitation of Finite Resources

Author

Moran, José, Fosset, Antoine, Kirman, Alan, and Benzaquen, Michael

Subjects
Physics - Physics and Society, Quantitative Biology - Populations and Evolution
Abstract

We analyse the dynamics of fishing vessels with different home ports in an area where these vessels, in choosing where to fish, are influenced by their own experience in the past and by their current observation of the locations of other vessels in the fleet. Empirical data from the boats near Ancona and Pescara shows stylized statistical properties that are reminiscent of Kirman and F\"ollmer's ant recruitment model, although with two ant colonies represented by the two ports. From the point of view of a fisherman, the two fishing areas are not equally attractive, and he tends to prefer the one closer to where he is based. This piece of evidence led us to extend the original ants model to a situation with two asymmetric zones and finite resources. We show that, in the mean-field regime, our model exhibits the same properties as the empirical data. We obtain a phase diagram that separates high and low herding regimes, but also fish population extinction. Our analysis has interesting policy implications for the ecology of fishing areas. It also suggests that herding behaviour here, just as in financial markets, will lead to significant fluctuations in the amount of fish landed, as the boat concentration on one area at a given point in time will diminish the overall catch, such loss not being compensated by the reproduction of fish in the other area. In other terms, individually rational behaviour will not lead to collectively optimal results., Comment: 25 pages, 8 figures

Published
2020

8. Overcoming a legacy of racial discrimination: competing policy goals in South African academia.

Author

Cowan, Robin, Müller, Moritz, Kirman, Alan, and Barnard, Helena

Abstract

Because discrimination is systemic, efforts to counter it must also be systemic. The South African case is instructive because it is extreme: Apartheid deliberately excluded the majority of the population, Black South Africans, from fully participating in society, but post-Apartheid efforts to achieve transformation have had limited success. This article examines the university system, where transformation involves increasing the size of the system; improving scientific quality and changing the racial composition. This will require more Black South Africans to do PhDs, to select academic careers and to be selected into the top universities. Policy interventions can be developed for each of these elements, but will they be complementary or contradictory? We simulate a calibrated model to address this question. Results reveal direct trade-offs, with different combinations resulting in different benefits. By highlighting the differential gains of different policy combinations, this article can support informed policy-making about a highly complex issue. [ABSTRACT FROM AUTHOR]

Published
2024
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9. THE BRAIN ECONOMY

Author

Eyre, Harris A, Sinha, Anika, Smith, Erin, Chapman, Sandra B, Kirman, Alan, Altimus, Cara, Leboyer, Marion, and Hynes, William

Published
2020

13. Systemic Risk and Macroeconomic Fat Tails

Author

Bougheas, Spiros, Harvey, David, Kirman, Alan, Commendatore, Pasquale, editor, Kubin, Ingrid, editor, Bougheas, Spiros, editor, Kirman, Alan, editor, Kopel, Michael, editor, and Bischi, Gian Italo, editor

Published
2018
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14. Introduction

Author

Commendatore, Pasquale, Kubin, Ingrid, Bougheas, Spiros, Kirman, Alan, Kopel, Michael, Bischi, Gian Italo, Commendatore, Pasquale, editor, Kubin, Ingrid, editor, Bougheas, Spiros, editor, Kirman, Alan, editor, Kopel, Michael, editor, and Bischi, Gian Italo, editor

Published
2018
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15. Looking Ahead: Part II

Author

Bougheas, Spiros, Kirman, Alan, Commendatore, Pasquale, editor, Kubin, Ingrid, editor, Bougheas, Spiros, editor, Kirman, Alan, editor, Kopel, Michael, editor, and Bischi, Gian Italo, editor

Published
2018
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16. The Economy as a Complex System

Author

Kirman, Alan, Fujimoto, Takahiro, Editor-in-chief, Aruka, Yuji, Editor-in-chief, Sechiyama, Satoshi, Series editor, Shiozawa, Yoshinori, Series editor, Yagi, Kiichiro, Series editor, Yoshida, Kazuo, Series editor, Aoyama, Hideaki, Series editor, Deguchi, Hiroshi, Series editor, Nishibe, Makoto, Series editor, Hashimoto, Takashi, Series editor, Yoshida, Masaaki, Series editor, Onozaki, Tamotsu, Series editor, Chen, Shu-Heng, Series editor, Helbing, Dirk, Series editor, and Kirman, Alan, editor

Published
2017
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29. Bank Insolvencies, Priority Claims and Systemic Risk

Author

Bougheas, Spiros, Kirman, Alan, Fandel, Günter, Editor-in-chief, Trockel, Walter, Editor-in-chief, Dawid, Herbert, Series editor, Dimitrov, Dinko, Series editor, Gerber, Anke, Series editor, Haake, Claus-Jochen, Series editor, Hofmann, Christian, Series editor, Pfeiffer, Thomas, Series editor, Slowiński, Roman, Series editor, Zijm, W.H.M., Series editor, Commendatore, Pasquale, editor, Matilla-García, Mariano, editor, Varela, Luis M., editor, and Cánovas, Jose S., editor

Published
2016
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34. Relaxing the symmetry assumption in participation games: A specification test for cluster-heterogeneity

Author

Pezanis-Christou, Paul, Kirman, Alan, and Francois Laisney

Subjects
Economics, Econometrics and Finance (miscellaneous)
Abstract

We propose a novel approach to check whether individual behaviour in binary-choice participation games is consistent with the restrictions imposed by symmetric models. This approach allows in particular an assessment of how much cluster-heterogeneity a symmetric model can tolerate to remain consistent with its behavioural restrictions. We assess our approach with data from market-entry experiments which we analyse through the lens of ‘Exploration versus Exploration’ (EvE, which is equivalent to Logit-QRE) or of Impulse Balance Equilibrium (IBE). We find that when the symmetry assumption is imposed, both models are typically rejected when assuming pooled data and IBE yields more data-consistent estimates than EvE, i.e., IBE’s estimates of session and pooled data are more consistent than those of EvE. When relaxing symmetry, EvE (IBE) is rejected for 17% (42%) of the time. Although both models support cluster-heterogeneity, IBE is much less likely to yield over-parametrised specifications and insignificant estimates so it outperforms EvE in accommodating a model-consistent cluster-heterogeneity. The use of regularisation procedures in the estimations partially addresses EvE’s shortcomings but leaves our overall conclusions unchanged.

Published
2023
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38. Introduction

Author

Kirman, Alan, Zimmermann, Jean-Benoît, Beckmann, M., editor, Künzi, H. P., editor, Fandel, G., editor, Trockel, W., editor, Aliprantis, C. D., editor, Kovenock, Dan, editor, Kirman, Alan, editor, and Zimmermann, Jean-Benoît, editor

Published
2001
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39. Introduction

Author

Gatti, Domenico Delli, Gallegati, Mauro, Kirman, Alan P., Fandel, G., editor, Trockel, W., editor, Gatti, Domenico Delli, editor, Gallegati, Mauro, editor, and Kirman, Alan, editor

Published
2000
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45. Introduction

Author

Commendatore, Pasquale, primary, Kubin, Ingrid, additional, Bougheas, Spiros, additional, Kirman, Alan, additional, Kopel, Michael, additional, and Bischi, Gian Italo, additional

Published
2017
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48. Complex Dynamics, Financial Fragility and Stylized Facts

Author

Delli Gatti, Domenico, Gaffeo, Edoardo, Gallegati, Mauro, Giulioni, Gianfranco, Kirman, Alan, Palestrini, Antonio, Russo, Alberto, Beckmann, M., editor, Künzi, H. P., editor, Fandel, G., editor, Trockel, W., editor, Basile, A., editor, Drexl, A., editor, Dawid, H., editor, Inderfurth, K., editor, Kürsten, W., editor, Schittko, U., editor, Mathieu, Philippe, editor, Beaufils, Bruno, editor, and Brandouy, Olivier, editor

Published
2006
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