Agent based model of a simple economy

Vladimír Gazda; Marek Gróf; Július Horváth; Matúš Kubák; Tomáš Rosival

doi:10.1007/s11403-012-0097-2

Agent based model of a simple economy

Vladimír Gazda, Marek Gróf^*, Július Horváth, Matúš Kubák, Tomáš Rosival

^*Corresponding author for this work

Technical University of Košice

Research output: Contribution to journal › Article › peer-review

Abstract (may include machine translation)

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.

Original language	English
Pages (from-to)	209-221
Number of pages	13
Journal	Journal of Economic Interaction and Coordination
Volume	7
Issue number	2
DOIs	https://doi.org/10.1007/s11403-012-0097-2
State	Published - Oct 2012

Keywords

Agent-based model
Trust
Trust game
Trustworthiness

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10.1007/s11403-012-0097-2

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title = "Agent based model of a simple economy",

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year = "2012",

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AU - Gazda, Vladimír

AU - Gróf, Marek

AU - Horváth, Július

AU - Kubák, Matúš

AU - Rosival, Tomáš

PY - 2012/10

Y1 - 2012/10

N2 - 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.

AB - 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.

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KW - Trust game

KW - Trustworthiness

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ER -

Agent based model of a simple economy

Abstract (may include machine translation)

Keywords

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