Emergent Behavior in Information Economies
نویسندگان
چکیده
We explore the dynamic behavior of information economies: very large open economies of automated information agents that will exist on the Internet. Such large interacting systems are likely to exhibit emergent phenomena not straightforward to anticipate. We model a simple information economy that revolves around economically-aware news-ltering brokers to whom consumers choose to subscribe. Our analyses and simulations reveal interesting emergent phenomena. One negative phenomenon we observe is price war instability manifested as limit-cycle behavior, looping among substantially suboptimal states. One positive phenomenon we observe is fairly eecient niche specialization by brokers in which the market eeectively self-organizes.
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