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A C++ Platform for the Evolution of Trade Networks

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  • McFadzean, David
  • Tesfatsion, Leigh

Abstract

This paper presents a general C++ platform for the implementation of a trade network game (TNG) that combines evolutionary game play with preferential partner selection. In the TNG, successive generations of resource constrained traders choose and refuse trade partners on the basis of continually updated expected payoffs, engage in risky trades modelled as two-person games, and evolve their trade strategies over time. The modular design of the TNG platform facilitates experimentation with alternative specifications for market structure, trade partner matching, trading, expectation formation, and trade strategy evolution. The TNG platform can be used to study the evolutionary implications of these specifications at three different levels: individual trader attributes, trade network formation, and social welfare.

Suggested Citation

  • McFadzean, David & Tesfatsion, Leigh, 1999. "A C++ Platform for the Evolution of Trade Networks," ISU General Staff Papers 199901010800001037, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:199901010800001037
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    1. 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.
    2. Leigh TESFATSION, 1995. "A Trade Network Game With Endogenous Partner Selection," Economic Report 36, Iowa State University Department of Economics.
    3. 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.
    4. 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.
    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. Ulrich Witt, 1994. "Evolutionary economics," Chapters, in: Peter J. Boettke (ed.), The Elgar Companion to Austrian Economics, chapter 78, Edward Elgar Publishing.
    7. Joshua M. Epstein & Robert L. Axtell, 1996. "Growing Artificial Societies: Social Science from the Bottom Up," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262550253, April.
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    9. Tesfatsion, Leigh, 1995. "How Economists Can Get Alife," Economic Reports 18196, Iowa State University, Department of Economics.
    10. Friedman, Daniel, 1991. "Evolutionary Games in Economics," Econometrica, Econometric Society, vol. 59(3), pages 637-666, May.
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    More about this item

    JEL classification:

    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • D - Microeconomics
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior

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