The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Ants, Rationality, and Recruitment
Abstract
This paper offers an explanation of behavior that puzzled entomologists and economists. Ants, faced with two identical food sources, were observed to concentrate more on one of these, but after a period they would turn their attention to the other. The same phenomenon has been observed in humans choosing between restaurants. After discussing the nature of foraging and recruitment behavior in ants, a simple model of stochastic recruitment is suggested. This explains the “herding” and “epidemics” described in the literature on financial markets as corresponding to the equilibrium distribution of a stochastic process rather than to switching between multiple equilibria.
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Citations
Cites
The spandrels of San Marco and the Panglossian paradigm: a critique of the adaptationist programme
Gould, S. J., & Lewontin, R. C. (1979) · Proceedings of the Royal Society of London. Series B. Biological Sciences · doi:10.1098/rspb.1979.0086 · Cited by 7,770
Cited by
Young, H. P. (1993) · Econometrica · doi:10.2307/2951778 · Cited by 2,399
Herd Behaviour, Bubbles and Crashes
Lux, T. (1995) · The Economic Journal · doi:10.2307/2235156 · Cited by 1,050
Word-of-Mouth Communication and Social Learning
Ellison, G., & Fudenberg, D. (1995) · The Quarterly Journal of Economics · doi:10.2307/2118512 · Cited by 894
Social network markets: a new definition of the creative industries
Potts, J., Cunningham, S., Hartley, J., & Ormerod, P. (2008) · Journal of Cultural Economics · doi:10.1007/s10824-008-9066-y · Cited by 586
Baddeley, M. (2010) · Philosophical Transactions of the Royal Society B: Biological Sciences · doi:10.1098/rstb.2009.0169 · Cited by 286
Metadata
- Authors
- Kirman, A.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1993-02-01
- Volume
- 108
- Issue
- 1
- Pages
- 137-156
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W2098201978
- Cited by
- 983
- References
- 1
- FWCI
- 23.57
- Type
- journal article
- Language
- en
- Open access
- closed
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Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
