Induction: processes of inference, learning, and discovery
Induction: processes of inference, learning, and discovery
Classifier systems and genetic algorithms
Artificial Intelligence
Self-organization of markets: an example of a computational approach
Computational Economics - Special issue: genetic algorithms
Growing artificial societies: social science from the bottom up
Growing artificial societies: social science from the bottom up
A C++ Platform for the Evolution of Trade Networks
Computational Economics - Special issue on programming languages
Genetic Algorithms in Search, Optimization and Machine Learning
Genetic Algorithms in Search, Optimization and Machine Learning
Simulation of Learning in Supply Partnerships
Computational & Mathematical Organization Theory
Decentralized Interaction and Co-Adaptation in the Repeated Prisoner‘sDilemma
Computational & Mathematical Organization Theory
Simula Begin
Adaptive learning in evolving task allocation networks
Proceedings of The 8th International Conference on Autonomous Agents and Multiagent Systems - Volume 1
A trust matrix model for electronic commerce
iTrust'03 Proceedings of the 1st international conference on Trust management
Adaptive learning in complex trade networks
SEAL'06 Proceedings of the 6th international conference on Simulated Evolution And Learning
iTrust'05 Proceedings of the Third international conference on Trust Management
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Inter-firm relations have increasingly been analyzed by means of transaction cost economics (TCE). However, as has been widely acknowledged, TCE does not include dynamics of learning, adaptation or innovation, and it does not include trust. It assumes that efficient outcomes arise, while that may be in doubt, due to complexity and path-dependency of interactions between multiple agents that make, continue and break relations in unpredictable ways. We use the methodology of Agent-Based Computational Economics (ACE) to model how co-operation, trust and loyalty emerge and shift adaptively as relations evolve in a context of multiple, interacting agents. Agents adapt their trust on the basis of perceived loyalty. They adapt the weight they attach to trust relative to potential profit and they adapt their own loyalty, both as a function of realized profits. This allows us to explore when trust and loyalty increase and when they decrease, and what the effects are on (cumulative) profit.