On the 1st of July video course Competitive Strategy was started on the Coursera website. The aim of this course is to provide elementary background on the game theory and also to allow to understand how this theory can be useful in practice.
Course is taught by prof. Tobias Kretschmer from LMU Munich.
Feel free to try!
The most active and well known scientists contributing towards FuturICT project have organized their ideas into few articles, which discuss the current situation in contemporary complex social system modeling. These articles we published in a special issue of “The European Physical Journal Special Topics”. Most of the articles are available for free, thus we invite you to familiarize yourselves with them.
Read the special issue of EPJ »
Lithuanian FuturICT Hub »
EURO 2012 starts next week in Vilnius! EURO 2012, European Conference on Operational Research, is huge scientific event popular both among scientists and businessmen. Operational research tackles very challenging, and thus scientifically interesting, and highly applicable topics. Some of these topics overlap with the ones we discuss here on Physics of Risk – financial market modelling, risk management and analysis, decision making. Many reports will also consider logistics, optimization and network analysis.
On of our authors will join numerous scientists from Lithuania and abroad giving talks in the conference. On Monday, the 9th of July, he will give a talk on “Herding behavior of agents as a background of financial fluctuations”, Our works on the applications of Kirman model will be the key point of the talk.
Read more on the conference website: euro-2012.lt.
Recently in Lithuanian and world’s different or global social spaces there was a lot of disccusion on anti-piracy and the proportionality of so-called “protection” of intelectual properties. The US politicians consider SOPA and PIPA, while EU countries one after another expressed will to join ACTA. In Lithuanian media and blogosphere, as most probably in the rest of the world, has split into the ACTA supporter and oppositioner camps. Continue reading “Aleksejus Kononovicius: What can the Bass diffusion model tell us about piracy?” »
In the last year we have already written that work in the context of Physics of Risk provides varying insights into very different complex systems. The previous article  contained brief review of Physics of Risk platform and discussions on some of the models published using it. This article received great response and was even awarded the Best Paper Award by the publisher IARIA. Continue reading “IARIA publication reviewing our different research directions” »
Working on Physics of Risk is very interesting and useful experience. This experience provides valuable insights into the mechanics behind various complex systems, well modeled by macroscopic models. Using our experience we are able to obtain qualitative and quantitative agreements between varying models. In our newest publication  we have used one-step formalism  to obtain macroscopic treatments of Kirman model .
Continue reading “Agent-based versus macroscopic modeling of competition and business processes in economics” »
Bass diffusion model  is widely known and very important model in marketing science. This model predicts diffusion, sales, of new successful products inside the market. While previously discussed model, Kirman model , has wide range of possible applications – from biology to finance. In  it is noted that behavior observed by entomologists is similar to one observed in economic scenarios (ex. popularity of books and restaurants). Thus one might expect that Kirman’s model might be modified to work in the marketing scenario. Continue reading “Unidirectional Kirman’s model” »