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An Evolutionary Trade Network Game with Preferential Partner Selection

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An evolutionary Trade Network Game (TNG) is proposed for studying the interplay between evolutionary game dynamics and preferential partner selection in various market contexts with distributed adaptive agents. The modular form of the TNG facilitates experimentation with alternative specifications for trade partner matching, trading, expectation updating, and trade strategy evolution. Experimental results obtained using a C++ implementation suggest that the conventional optimality properties used to evaluate agent matching mechanisms in static market contexts may be inadequate measures of optimality from an evolutionary perspective.

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Paper provided by Society for Computational Economics in its series Computing in Economics and Finance 1996 with number _057.

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Handle: RePEc:sce:scecf6:_057

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Postal: Department of Econometrics, University of Geneva, 102 Bd Carl-Vogt, 1211 Geneva 4, Switzerland
Web page: http://www.unige.ch/ce/ce96/welcome.html
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  1. Leigh TESFATSION, 1995. "A Trade Network Game With Endogenous Partner Selection," Economic Report 36, Iowa State University Department of Economics.
  2. Esther Hauk, . "Leaving the Prison: A Discussion of the Iterated Prisoner's Dilemma under Preferential Partner Selection," Computing in Economics and Finance 1996 _067, Society for Computational Economics.
  3. Brock, William A & Durlauf, Steven N, 2001. "Discrete Choice with Social Interactions," Review of Economic Studies, Wiley Blackwell, vol. 68(2), pages 235-60, April.
  4. McFadzean, David & Tesfatsion, Leigh S., 1999. "A C++ Platform for the Evolution of Trade Networks," Staff General Research Papers 1639, Iowa State University, Department of Economics.
  5. 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.
  6. Alan P. Kirman, 1995. "Economies with Interacting Agents," Discussion Paper Serie A 500, University of Bonn, Germany.
  7. 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.
  8. Vriend, Nicolaas J, 1995. "Self-Organization of Markets: An Example of a Computational Approach," Computational Economics, Society for Computational Economics, vol. 8(3), pages 205-31, August.
  9. Hirshlifer, David & Rassmusen, Eric, 1989. "Cooperation in a repeated prisoners' dilemma with ostracism," Journal of Economic Behavior & Organization, Elsevier, vol. 12(1), pages 87-106, August.
  10. Sergei Guriev & Igor Pospelov & Margarita Shakhova, . "Self-Organization of Trade Networks in an Economy with Imperfect Infrastructure," Computing in Economics and Finance 1996 _022, Society for Computational Economics.
  11. repec:att:wimass:9328 is not listed on IDEAS
  12. Steven N. Durlauf, 1995. "Neighborhood Feedbacks, Endogenous Stratification, and Income Inequality," Working Papers 95-07-061, Santa Fe Institute.
  13. George Mailath & Larry Samuelson & Avner Shaked, 1994. "Evolution and Endogenous Interactions," Game Theory and Information 9410003, EconWPA.
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