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Social Consequences of Commitment

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  • Isaac, Alan G

Abstract

This paper begins with a detailed computational introduction to a classic ACE model: an evolutionary prisoner's dilemma. The paper presents a simple but fully coded object oriented implementation of this model. (We use the Python programming language, which is shown to be a natural ally for ACE research). Using these tools, we demonstrate that player type evolution is affected by cardinal payoffs. We then explore a possible social benefit to commitment, where 'commitment' denotes an unwillingness to surrender a reciprocal strategy.

Suggested Citation

  • Isaac, Alan G, 2006. "Social Consequences of Commitment," MPRA Paper 414, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:414
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    File URL: https://mpra.ub.uni-muenchen.de/414/1/MPRA_paper_414.pdf
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    References listed on IDEAS

    as
    1. Alan G. Isaac & Walter G. Park, 2004. "On Intellectual Property Rights: Patents versus Free and Open Development," Chapters, in: Enrico Colombatto (ed.), The Elgar Companion to the Economics of Property Rights, chapter 18, Edward Elgar Publishing.
    2. Hahn, Frank, 1991. "The Next Hundred Years," Economic Journal, Royal Economic Society, vol. 101(404), pages 47-50, January.
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    More about this item

    Keywords

    ACE; agent-based; computational economics; iterated prisoner's dilemma; evolutionary prisoner's dilemma; commitment;
    All these keywords.

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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