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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 updating, and trade strategy evolution. Experimental results obtained using a C-t-f implementation suggest that the conventional optimal properties used to evaluate agent matching mechanisms in static market contexts may be in an equate measures of optimal from an evolutionary perspective.

Suggested Citation

  • Tesfatsion, Leigh, 1996. "An Evolutionary Trade Network Game With Preferential Partner Selection," ISU General Staff Papers 199602010800001036, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:199602010800001036
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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. 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.
    3. William A. Brock & Steven N. Durlauf, 2001. "Discrete Choice with Social Interactions," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 68(2), pages 235-260.
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    5. 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.
    6. Brock, W.A. & Durlauf, S.N., 1995. "Discrete Choice with Social Interactions I: Theory," Working papers 9521, Wisconsin Madison - Social Systems.
    7. 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.
    8. Alan P. Kirman, 1994. "Economies with Interacting Agents," Working Papers 94-05-030, Santa Fe Institute.
    9. Durlauf, S.N., 1993. "Neighborhood Feedbacks, Endogenous Stratification, and Income Inequality," Working papers 9328, Wisconsin Madison - Social Systems.
    10. Leigh S. Tesfatsion, "undated". "An Evolutionary Trade Network Game with Preferential Partner Selection," Computing in Economics and Finance 1996 _057, Society for Computational Economics.
    11. Roth, Alvin E. & Sotomayor, Marilda, 1992. "Two-sided matching," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 16, pages 485-541, Elsevier.
    12. George Mailath & Larry Samuelson & Avner Shaked, 1994. "Evolution and Endogenous Interactions," Game Theory and Information 9410003, University Library of Munich, Germany.
    13. 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.
    14. 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.
    15. 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.
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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

    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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