000018191 001__ 18191
000018191 005__ 20170824025700.0
000018191 037__ $$a1041-2016-85256
000018191 041__ $$aen
000018191 245__ $$aA TRADE NETWORK GAME WITH ENDOGENOUS PARTNER SELECTION
000018191 260__ $$c1995
000018191 269__ $$a1995
000018191 270__ $$mtesfatsi@iastate.edu$$pTesfatsion,   Leigh
000018191 300__ $$a16
000018191 336__ $$aWorking or Discussion Paper
000018191 446__ $$aEnglish
000018191 490__ $$aEconomic Report 36
000018191 520__ $$aThis paper develops a Trade Network Game (TNG) that combines evolutionary game play with endogenous partner selection. Resource-constrained buyers and sellers choose and refuse trade partners on the basis of continually updated expected payoffs. Partner selection takes place in accordance with a "deferred choice and refusal" mechanism that is shown to have interesting stability, optimality, and uniqueness properties.  The iterated prisoner's dilemma strategies used by buyers and sellers to conduct their trades are evolved over time via a genetic algorithm that biases reproduction in favor of strategies that have been successful in past trades.  The TNG is shown to encompass a variety of economic applications, such as job search games, labor markets modelled as assignment games, labor markets with endogenously determined workers and employers, and double auction games.  To illustrate the way in which preferential partner selection interacts with game play in the TNG, resulting in the endogenous formation of trade networks, a 5-trader TNG is analyzed in detail.
000018191 650__ $$aInternational Relations/Trade
000018191 6531_ $$aTrade networks
000018191 6531_ $$aevolutionary game
000018191 6531_ $$aoptimal search
000018191 6531_ $$aendogenous interactions
000018191 6531_ $$aiterated prisoner's dilemma
000018191 6531_ $$amulti-armed bandit game
000018191 6531_ $$aassignment game
000018191 6531_ $$apreferential partner matching
000018191 6531_ $$agenetic algorithm
000018191 6531_ $$aartificial life
000018191 6531_ $$acriterion filtering
000018191 700__ $$aTesfatsion, Leigh
000018191 8564_ $$s298694$$uhttp://ageconsearch.umn.edu/record/18191/files/er36.pdf
000018191 887__ $$ahttp://purl.umn.edu/18191
000018191 909CO $$ooai:ageconsearch.umn.edu:18191$$qGLOBAL_SET
000018191 912__ $$nMade available in DSpace on 2007-03-07T23:42:14Z (GMT). No. of bitstreams: 1
er36.pdf: 298694 bytes, checksum: 7837111add93b8aa5bd6465d98b719ee (MD5)
  Previous issue date: 1995
000018191 982__ $$gIowa State University>Department of Economics>Economic Reports
000018191 980__ $$a1041