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Self-Organizing Production and Exchange

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Author Info
Allen Wilhite
Abstract

Consider autonomous agents endowed with two goods and the capability ofproducing each. Regularly each agent can produce one (only) of the goods or trade with other agents. Each good yields utility according to a utility function. This paper studies how utility-maximizing agents optimize in these circumstances, examines the aggregate characteristics of the resulting economy, and investigates the internal organization of production and exchange. Copyright Kluwer Academic Publishers 2003

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File URL: http://hdl.handle.net/10.1023/A:1022299201950
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Publisher Info
Article provided by Springer in its journal Computational Economics.

Volume (Year): 21 (2003)
Issue (Month): 1 (February)
Pages: 107-123
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:kap:compec:v:21:y:2003:i:1:p:107-123

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Related research
Keywords: emergent organizations; trade networks; customer loyality; specialization;

References listed on IDEAS
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  1. Dawid, Herbert, 2000. "On the emergence of exchange and mediation in a production economy," Journal of Economic Behavior & Organization, Elsevier, vol. 41(1), pages 27-53, January. [Downloadable!] (restricted)
  2. Howitt, Peter & Clower, Robert, 2000. "The emergence of economic organization," Journal of Economic Behavior & Organization, Elsevier, vol. 41(1), pages 55-84, January. [Downloadable!] (restricted)
  3. Vriend, Nicolaas J, 1995. "Self-Organization of Markets: An Example of a Computational Approach," Computational Economics, Springer, vol. 8(3), pages 205-31, August.
  4. Yannis M. Ioannides, 1996. "Evolution of Trading Structures," Working Papers 96-04-020, Santa Fe Institute.
  5. Kirman, Alan P & Oddou, Claude & Weber, Shlomo, 1986. "Stochastic Communication and Coalition Formation," Econometrica, Econometric Society, vol. 54(1), pages 129-38, January. [Downloadable!] (restricted)
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