This article proposes a model of a simple economy based on a set of agent-based modeling principles. The model is based on the “trust game” formulated by Berg et al. (Games Econ Behav 10:122–142, 1995), and anticipates a random matching of partners taking in to account adaptive agent behavior. Simulation in the NetLogo programming environment, using profile distributions obtained from empirical studies, has shown the most successful agents to posses low parameters of trust in the role of Sender and high parameters of trustworthiness in the role of Receiver.
Trust Trustworthiness Agent-based model Trust game
This is a preview of subscription content, log in to check access.
Greiner B, Ockenfels A, Werner P (2012) The dynamic interplay of inequality and trust—an experimental study. J Econ Behav Org 81(2): 355–365CrossRefGoogle Scholar
Greig F, Bohnet I (2008) Is there reciprocity in a reciprocal-exchange economy? Evidence from a slum in Nairobi, Kenya. Econ Inq 46: 77–83CrossRefGoogle Scholar
Stanton AA (2007) Neural substrates of decision-making in economic games. J Diss 1(1): 1–63Google Scholar
Takahashi CT, Yamagishi ST, Tanida S, Kiyonari T, Kanazawa S (2006) Attractiveness and cooperation in social exchange. Evol Psychol 4: 300–314Google Scholar
Willinger M, Keser C, Lohmann C, Usunier JC (2003) A comparison of trust and reciprocity between France and Germany: Experimental investigation based on the investment game. J Econ Psychol 24(4): 447–466CrossRefGoogle Scholar