The emergence and collapse of money
Physica D
Introduction to Reinforcement Learning
Introduction to Reinforcement Learning
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The replication of scientific experiments with humans, now as artificial agents in computer simulations, under similar conditions, has shown some intriguing results in several areas, such as agent-based computational economics (ACE). This paper describes the research involving an analysis of the Kiyotaki-Wright (KW) economic model, which was created to explain the emergence of money from an exchanging environment. It is one of the most investigated models due to its simplicity and effectiveness. Following an alternative approach, the focus of this research is the use of simple intelligent agents, which use reinforcement learning, within the Swarm framework. The results obtained are quite intriguing and closer to the KW model's mathematical equilibrium than the results obtained in previous studies in scientific literature.