The Emergence of Classes in a Multi-Agent Bargaining Model

@inproceedings{Axtell1999TheEO,
  title={The Emergence of Classes in a Multi-Agent Bargaining Model},
  author={Robert L. Axtell and Joshua M. Epstein and H. Peyton Young},
  year={1999}
}
The essential idea is to show how norms can emerge spontaneously at the social level from the decentralized interactions of many individuals that cumulate over time into a set of social expectations. Due to the self-reinforcing nature of the process, these expectations tend to perpetuate themselves for long periods of time, even though they may have arisen from purely random events and have no a priori justification. We show that social expectations gravitate to one of three conditions: i) an… CONTINUE READING

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