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).&nbsp;The model is very simple: Period by period, all agents average over all opinions that are not further away&nbsp;from their actual opinion than a given distance&nbsp;Epsilon, their `bound of confidence&lsquo;.&nbsp;The simplicity of the model is deceptive. Two decades ago, Ulrich Krause and I&nbsp;published an&nbsp;analysis of the model in which we overlooked completely a decisive feature of our model:&nbsp;For increasing values of Epsilon, our analysis back then suggests smooth transitions in the model&rsquo;s behavior.&nbsp;But in fact, the transitions are wild, chaotic, and non-monotonic. In my talk I will present a completely novel approach&nbsp;to analyse the BC-model. In the new approach everything we overlooked at the time becomes directly obvious&nbsp;and, in a sense, unmissable.</p> <p>Presential in the IFISC seminar room, Zoom stream at&nbsp;https://zoom.us/j/98286706234?pwd=bm1JUFVYcTJkaVl1VU55L0FiWDRIUT09</p>; Url event:https://ifisc.uib-csic.es/en/events/seminars/bounded-confidence-a-deceptivel...