Showing 1 - 10 of 12
This article examines the extent to which utilitarian social welfare maximization results in an egalitarian outcome for the classic n-agent cake-cutting problem when the agents are characterized by heterogenous subsistence needs as well as by heterogeneous tastes. It is shown that utilitarian...
Persistent link: https://www.econbiz.de/10004997731
This study investigates the performance of Gale-Shapley matching in an evolutionary market context. Computational experimental findings are reported for an evolutionary match-and-play trade network game in which resource constrained traders repeatedly choose and refuse trade partners in...
Persistent link: https://www.econbiz.de/10004979902
This report presents, motivates, and illustrates the use of a computational laboratory for the investigation of evolutionary trade network formation among strategically interacting buyers, sellers, and dealers. The computational laboratory, referred to as the Trade Network Game Laboratory (TNG...
Persistent link: https://www.econbiz.de/10004979909
Related work can be accessed here: http://www.econ.iastate.edu/tesfatsi/tnghome.htm
Persistent link: https://www.econbiz.de/10004979921
This article extends the traditional iterated prisoner's dilemma (IPD) with round-robin partner matching by permitting players to choose and refuse partners in each iteration on the basis of continually updated expected payoffs. Comparative computer experiments are reported that indicate the...
Persistent link: https://www.econbiz.de/10004979931
We present a dynamic game of search and learning about the productivity of com-peting fishing locations. Perfect Bayesian Nash equilibrium search patterns for non-cooperating fishermen and members of an information sharing cooperative are com-pared with first-best outcomes. Independent fishermen...
Persistent link: https://www.econbiz.de/10008557375
This study undertakes a systematic experimental investigation of the relationship between market power and labor market structure (concentration and capacity conditions) when workers and employers preferentially match based on past worksite experiences. For each tested market structure, workers...
Persistent link: https://www.econbiz.de/10004993635
This chapter explores the potential advantages and disadvantages of Agent-based Computational Economics (ACE) for the study of economic systems. General points are concretely illustrated using an ACE model of a two-sector decentralized market economy. Six issues are highlighted: Constructive...
Persistent link: https://www.econbiz.de/10004997725
Since optimal investment strategies generally cannot be obtained in closed form when consumers exhibit non-constant risk aversion, many dynamic investment studies have focused on the constant risk aversion case. This study considers a general class of dynamic investment models in which agents...
Persistent link: https://www.econbiz.de/10004997753
Abstract not available
Persistent link: https://www.econbiz.de/10008500479