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Agent based model of a simple economy

  • Vladimír Gazda
  • Marek Gróf


  • Július Horváth
  • Matúš Kubák
  • Tomáš Rosival

This article proposes a model of a simple economy based on a set of agent-based modeling principles. The model is based on the “trust game” formulated by Berg et al. (Games Econ Behav 10:122–142, 1995 ), and anticipates a random matching of partners taking in to account adaptive agent behavior. Simulation in the NetLogo programming environment, using profile distributions obtained from empirical studies, has shown the most successful agents to posses low parameters of trust in the role of Sender and high parameters of trustworthiness in the role of Receiver. Copyright Springer-Verlag 2012

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Article provided by Springer in its journal Journal of Economic Interaction and Coordination.

Volume (Year): 7 (2012)
Issue (Month): 2 (October)
Pages: 209-221

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Handle: RePEc:spr:jeicoo:v:7:y:2012:i:2:p:209-221
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  1. Dirk Engelmann & Urs Fischbacher, 2008. "Indirect Reciprocity and Strategic Reputation Building in an Experimental Helping Game," TWI Research Paper Series 34, Thurgauer Wirtschaftsinstitut, Universit�t Konstanz.
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  15. Fiona Greig & Iris Bohnet, 2008. "Is There Reciprocity In A Reciprocal-Exchange Economy? Evidence Of Gendered Norms From A Slum In Nairobi, Kenya," Economic Inquiry, Western Economic Association International, vol. 46(1), pages 77-83, 01.
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