Berlin 2012 – scientific programme

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SOE: Fachverband Physik sozio-ökonomischer Systeme

SOE 3: Economic Models and Evolutionary Game Theory I

SOE 3.6: Talk

Monday, March 26, 2012, 12:15–12:30, H 0110

Self-organized cartel dynamics in a modified trust game — •Tiago P. Peixoto and Stefan Bornholdt — Institut für Theoretische Physik, Universität Bremen, Otto-Hahn-Allee 1, D-28359 Bremen, Germany

We investigate the dynamics of a trust game on a mixed population where individuals are forced to play against a predetermined number of partners, which they are allowed to dynamically choose. Players are also allowed to update their level of trustworthiness, based on payoff. The dynamics undergoes a transition at a specific value of the strategy update rate, above which an emergent cartel organization is observed, where individuals have similar values of below optimal trustworthiness. This dynamics is marked by large fluctuations and a high degree of unpredictability for most of the parameter space, and serve as a plausible qualitative explanation for observed fluctuations in certain commodity prices.