IFISC Colloquium on Wednesday Jan 18, 2023 at 14:30 Place: IFISC Seminar Room Title: Bounded Confidence: A deceptively simple model Speaker: Rainer Hegselmann, University of Bayreuth and Frankfurt School of Finance & Management Abstract: <p>My talk will discuss the so called bounded confidence model (BC-model, for short). The model is very simple: Period by period, all agents average over all opinions that are not further away from their actual opinion than a given distance Epsilon, their `bound of confidence‘. The simplicity of the model is deceptive. Two decades ago, Ulrich Krause and I published an analysis of the model in which we overlooked completely a decisive feature of our model: For increasing values of Epsilon, our analysis back then suggests smooth transitions in the model’s behavior. But in fact, the transitions are wild, chaotic, and non-monotonic. In my talk I will present a completely novel approach to analyse the BC-model. In the new approach everything we overlooked at the time becomes directly obvious and, in a sense, unmissable.</p> <p>Presential in the IFISC seminar room, Zoom stream at https://zoom.us/j/98286706234?pwd=bm1JUFVYcTJkaVl1VU55L0FiWDRIUT09</p>; Url event:https://ifisc.uib-csic.es/en/events/seminars/bounded-confidence-a-deceptivel...