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An Evolutionary Trade Network Game With Preferential Partner Selection

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  • Tesfatsion, Leigh

Abstract

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 up dating, 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 maybe inadequate measures of optimality from an evolutionary perspective.

Suggested Citation

  • Tesfatsion, Leigh, 1996. "An Evolutionary Trade Network Game With Preferential Partner Selection," Economic Reports 18188, Iowa State University, Department of Economics.
  • Handle: RePEc:ags:iowaer:18188
    DOI: 10.22004/ag.econ.18188
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    1. Tesfatsion, Leigh, 1995. "A Trade Network Game with Endogenous Partner Selection," ISU General Staff Papers 199505010700001034, Iowa State University, Department of Economics.
    2. Leigh S. Tesfatsion, "undated". "An Evolutionary Trade Network Game with Preferential Partner Selection," Computing in Economics and Finance 1996 _057, Society for Computational Economics.
    3. McFadzean, David & Tesfatsion, Leigh, 1999. "A C++ Platform for the Evolution of Trade Networks," Computational Economics, Springer;Society for Computational Economics, vol. 14(1-2), pages 109-134, October.
    4. Ashlock, Dan & Smucker, Mark & Stanley, E. Ann & Tesfatsion, Leigh, 1994. "Preferential Partner Selection in an Evolutionary Study of Prisoner's Dilemma," ISU General Staff Papers 199409010700001033, Iowa State University, Department of Economics.
    5. Stanley, E. Ann & Ashlock, Dan & Tesfatsion, Leigh, 1993. "Iterated Prisoner's Dilemma with Choice and Refusal of Partners," ISU General Staff Papers 199302010800001028, Iowa State University, Department of Economics.
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    7. Roth,Alvin E. & Sotomayor,Marilda A. Oliveira, 1992. "Two-Sided Matching," Cambridge Books, Cambridge University Press, number 9780521437882, February.
    8. Vriend, Nicolaas J, 1995. "Self-Organization of Markets: An Example of a Computational Approach," Computational Economics, Springer;Society for Computational Economics, vol. 8(3), pages 205-231, August.
    9. Esther Hauk, "undated". "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.
    10. Durlauf, S.N., 1993. "Neighborhood Feedbacks, Endogenous Stratification, and Income Inequality," Working papers 9328, Wisconsin Madison - Social Systems.
    11. William A. Brock & Steven N. Durlauf, 1995. "Discrete Choice with Social Interactions I: Theory," NBER Working Papers 5291, National Bureau of Economic Research, Inc.
    12. William A. Brock & Steven N. Durlauf, 2001. "Discrete Choice with Social Interactions," Review of Economic Studies, Oxford University Press, vol. 68(2), pages 235-260.
    13. Sergei Guriev & Igor Pospelov & Margarita Shakhova, "undated". "Self-Organization of Trade Networks in an Economy with Imperfect Infrastructure," Computing in Economics and Finance 1996 _022, Society for Computational Economics.
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    1. Leigh S. Tesfatsion, "undated". "An Evolutionary Trade Network Game with Preferential Partner Selection," Computing in Economics and Finance 1996 _057, Society for Computational Economics.

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    More about this item

    Keywords

    International Relations/Trade;

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D2 - Microeconomics - - Production and Organizations
    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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