Network-Based Trust Games: An Agent-Based Model
Authored by Tong Zhang, Bin-Tzong Chie, Shu-Heng Chen
Date Published: 2015
Sponsors:
Chinese National Natural Science Foundation
Ministry of Science and Technology
Taiwan National Science Council
Platforms:
NetLogo
Model Documentation:
Other Narrative
Mathematical description
Model Code URLs:
Model code not found
Abstract
By hybridizing two kinds of games frequently used in experimental
economics, namely, trust games and network games, this paper develops a
model of the network-based trust game. Through agent-based simulation of
the model, we can demonstrate the positive effects of trust on growth.
Even though the underlying technology still provides the fundamental
channel for growth, there is an indirect effect on growth through
network formation. It is in this network formation process that trust
plays a role. The trust considered in this paper is a kind of myopic
trust which, through the stochastic choice model, can affect agents'
decisions regarding networking, portfolios, and kickbacks, which in turn
affects network formation, wealth creation, and distribution.
Tags
Simulation
Evolution
Reciprocity
Reputation
Decision-Making
Trustworthiness
Altruism
Partner selection
Economic-growth
Metaanalysis