Transactions of the Institute of Systems, Control and Information Engineers
Online ISSN : 2185-811X
Print ISSN : 1342-5668
ISSN-L : 1342-5668
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Multi-Agent Simulation for Choice under Risk
Ichiro NishizakiTomohiro Hayashida
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2010 Volume 23 Issue 10 Pages 227-235

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Abstract

In this paper, we develop a simulation system with artificial autonomous adaptive agents selecting one out of a given pair of binary lotteries which are represented by probability distributions over two outcomes. Agent’s decisions are made by a learning classifier system, and after classifying information of a given pair of binary lotteries, an agent chooses one out of them. The condition part of a classifier consists of conditions identifying probabilities and payoffs of a pair of binary lotteries and conditions identifying characteristics of the lotteries known by several models describing behavioral regularities of choices under risk. We compare the result of the simulation with that of the experiment by Selten et al. (1999), and demonstrating the similarity between them, we consider a mechanism of human choices under risk. Finally, we examine the possibility of controlling a subject’s preference with respect to risky events by the lottery ticket procedure.

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© 2010 The Institute of Systems, Control and Information Engineers
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