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Social preferences in the public goods game–An Agent-Based simulation with EconSim

Author

Listed:
  • Christoph Bühren
  • Jan Haarde
  • Christian Hirschmann
  • Janis Kesten-Kühne

Abstract

Using a reinforcement-learning algorithm, we model an agent-based simulation of a public goods game with endogenous punishment institutions. We propose an outcome-based model of social preferences that determines the agent’s utility, contribution, and voting behavior during the learning procedure. Comparing our simulation to experimental evidence, we find that the model can replicate human behavior and we can explain the underlying motives of this behavior. We argue that our approach can be generalized to more complex simulations of human behavior.

Suggested Citation

  • Christoph Bühren & Jan Haarde & Christian Hirschmann & Janis Kesten-Kühne, 2023. "Social preferences in the public goods game–An Agent-Based simulation with EconSim," PLOS ONE, Public Library of Science, vol. 18(3), pages 1-22, March.
    • Handle: RePEc:plo:pone00:0282112
    DOI: 10.1371/journal.pone.0282112
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    References listed on IDEAS

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    1. Ledyard, John O., "undated". "Public Goods: A Survey of Experimental Research," Working Papers 861, California Institute of Technology, Division of the Humanities and Social Sciences.
    2. Gode, Dhananjay K & Sunder, Shyam, 1993. "Allocative Efficiency of Markets with Zero-Intelligence Traders: Market as a Partial Substitute for Individual Rationality," Journal of Political Economy, University of Chicago Press, vol. 101(1), pages 119-137, February.
    3. Joachim Weimann & Jeannette Brosig-Koch, 2019. "Methods in Experimental Economics," Springer Texts in Business and Economics, Springer, number 978-3-319-93363-4, December.
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