Nature and Socio-Economic Systems

Complexity in Socio-Economic Systems

Crowd Avoidance and Diversity in Socio-Economic Systems and Recommendation

Recommender systems recommend objects regardless of potential adverse effects of their overcrowding. We address this shortcoming by introducing crowd-avoiding recommendation where each object can be shared by only a limited number of users or where object utility diminishes with the number of users sharing it. We use real data to show that contrary to expectations, the introduction of these con...

Langevin Processes, Agent Models and Socio-economic Systems Agent Models

We review some approaches to the understanding of fluctuations in some models used to describe socio and economic systems. Our approach builds on the development of a simple Langevin equation that characterises stochastic processes. This provides a unifying approach that allows first a straightforward description of the early approaches of Bachelier. We generalise the approach to stochastic equ...

Dynamics of Socio-Economic Systems: Attractors, Rationality and Meaning

Information and phase transitions in socio-economic systems

We examine the role of information-based measures in detecting and analysing phase transitions. We contend that phase transitions have a general character, visible in transitions in systems as diverse as classical flocking models, human expertise, and social networks. Information-based measures such as mutual information and transfer entropy are particularly suited to detecting the change in sc...