On the emergence of exchange and mediation in a production economy

Journal of Economic Behavior and Organization

Volumn 41, Issue 1, 2000, Pages 27-53

  Dawid, Herbert ^a  

^a UNIVERSITY OF SOUTHERN CALIFORNIA   (United States)

Author keywords

Bounded rationality; Learning; Mediation; Trade

Indexed keywords

EID: 0002627086     PISSN: 01672681     EISSN: None     Source Type: Journal    
DOI: 10.1016/s0167-2681(99)00086-4     Document Type: Article

References (22)

1. Arifovic, J., 1996. The behavior of the exchange rate in the genetic algorithm and experimental economics. Journal of Political Economy 104, 510-541.
2. Björnerstedt, J., Weibull, J., 1996. Nash equilibrium and evolution by imitation. In: Arrow, K., Colombatto, E. (Eds.), The Rational Foundations of Economic Behavior, Macmillan, London.
3. Cressman, R., 1992. The stability concept of evolutionary game theory, Springer, Berlin.
4. Curzon Price, T., 1997. Using co-evolutionary programming to simulate strategic behavior in markets. Journal of Evolutionary Economics 7, 219-254.
5. Dawid, H., 1996. Adaptive learning by genetic algorithms: analytical results and applications to economic models. Lecture Notes in Economics and Mathematical Systems No. 441, Springer, Heidelberg.
6. Dawid, H., 1999. Learning to trade and mediate. In: Delli Gatti, D., Gallegatti, M., Kirmar, A. (Eds.), Market Structure, Aggregation and Heterogeneity, Cambridge University Press, Cambridge, MA, in press.
7. Day, R., 1994. Complex economic dynamics. An Introduction to Dynamical Systems and Market Mechanisms, vol. I, MIT Press, Cambridge, MA, forthcoming.
8. Day, R., 1999. Complex economic dynamics. An Introduction to Macroeconomic Dynamics, vol. II, MIT Press, Cambridge, MA, forthcoming.
9. Hofbauer, J., Sigmund, K., 1988. The Theory of Evolution and Dynamical Systems, Cambridge University Press, Cambridge, MA.
10. Jones, R.A., 1976. The origin and development of media of exchange. Journal of Political Economy 84, 757-775.
11. Kandori, M., Rob, R., 1995. Evolution of equilibria in the long run: a general theory and applications. Journal of Economic Theory 65, 383-414.
12. Marimon, R., McGrattan, E., Sargent, T., 1990. Money as a medium of exchange in an economy with artificially intelligent agents. Journal of Economic Dynamics and Control 14, 329-373.
13. McFadzean, D., Tesfatsion, L., 1997. An Agent-Based Computational Model for the Evolution of Trade Networks. Working Paper, Iowa State University.
14. Pingle, M., 1995. Imitation versus rationality: an experimental perspective on decision making. Journal of Socio-Economics 24, 281-315.
15. Pingle, M., 1997. The endogenous formation of market making intermediaries: an experiment. Working Paper, University of Nevada.
16. Routledge, B.R., 1995. Artificial Selection: Genetic Algorithm and Learning in a Rational Expectations Model. Manuscript, University of British Columbia, Vancouver.
17. Rubinstein, A., Wolinsky, A., 1987. Middlemen. Quarterly Journal of Economics CII, 581-593.
18. Sargent, T.J., 1993. Bounded Rationality in Macroeconomics. Clarendon Press, Oxford.
19. Schlag, K., 1998. Why imitate, and, if so, how? A bounded rational approach to multi-armed bandits. Journal of Economic Theory, in press.
20. Simon, H.A., 1983. Reasons in Human Affairs. Stanford University Press, Stanford, CA.
21. Taylor, P.D., Jonker, L.B., 1978. Evolutionary stable strategies and game dynamics. Mathematical Biosciences 40, 145-156.
22. Vega-Redondo, F., 1995. Expectations, drift, and volatility in evolutionary games. Games and Economic Behavior 11, 391-412.