Agent based model of a simple economy

TitleAgent based model of a simple economy
Publication TypeJournal Article
AuthorsHorváth, J., V. Gazda, M. Gróf, M. Kubák, and T. Rosival
Journal titleJournal of Economic Interaction and Coordination

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.

Publisher link
Department of International Relations
Department of Economics and Business