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A C++ Platform For The Evolution Of Trade Networks

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  • David MCFADZEAN
  • Leigh TESFATSION

    ()

Abstract

This paper presents a general C++ platform for the implementation of a trade network game (TNG) that combines evolutionary game play with preferential partner selection. In the TNG, successive generations of resource constrained traders choose and refuse trade partners on the basis of continually updated expected payoffs, engage in risky trades modelled as two-person games, and evolve their trade strategies over time. The modular design of the TNG platform facilitates experimentation with alternative specifications for market structure, trade partner matching, trading, expectation formation, and trade strategy evolution. The TNG platform can be used to study the evolutionary implications of these specifications at three different levels: individual trader attributes; trade network formation; and social welfare.

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File URL: http://purl.umn.edu/18192
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Bibliographic Info

Paper provided by Iowa State University Department of Economics in its series Economic Report with number 39.

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Date of creation: Dec 1996
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Handle: RePEc:isu:iowaer:39

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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
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Web page: http://www.econ.iastate.edu
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Related research

Keywords: C++ platform; trade networks; evolutionary game; partner matching; endogenous interactions; agent-based computational economics; artificial life;

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References

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  1. Tesfatsion, Leigh, 1997. "How Economists Can Get Alife," Staff General Research Papers 1685, Iowa State University, Department of Economics.
  2. Richard R. Nelson, 1995. "Recent Evolutionary Theorizing about Economic Change," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 48-90, March.
  3. Ashlock, Daniel & Smucker, Mark D. & Stanley, E. Ann & Tesfatsion, Leigh S., 1996. "Preferential Partner Selection in an Evolutionary Study of Prisoner's Dilemma," Staff General Research Papers 1687, Iowa State University, Department of Economics.
  4. Joshua M. Epstein & Robert L. Axtell, 1996. "Growing Artificial Societies: Social Science from the Bottom Up," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262550253, December.
  5. Leigh TESFATSION, 1995. "A Trade Network Game With Endogenous Partner Selection," Economic Report 36, Iowa State University Department of Economics.
  6. Stanley, E.A. & Ashlock, Daniel & Tesfatsion, Leigh, 1994. "Iterated Prisoner's Dilemma with Choice and Refusal of Partners," Staff General Research Papers 11180, Iowa State University, Department of Economics.
  7. Ulrich Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Philipps University Marburg, Department of Geography.
  8. Friedman, Daniel, 1991. "Evolutionary Games in Economics," Econometrica, Econometric Society, vol. 59(3), pages 637-66, May.
  9. Alan P. Kirman, 1992. "Whom or What Does the Representative Individual Represent?," Journal of Economic Perspectives, American Economic Association, vol. 6(2), pages 117-136, Spring.
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