Agent based model of a simple economy

Vladimír Gazda (), Marek Gróf (), Julius Horvath, Matus Kubak () and Tomáš Rosival

Journal of Economic Interaction and Coordination, 2012, vol. 7, issue 2, 209-221

Abstract: 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

Keywords: Trust; Trustworthiness; Agent-based model; Trust game (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s11403-012-0097-2

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