An Agent-Based Model of Institutional Life-Cycles

Games

Manuel Wäckerle¹  Bernhard Rengs²  Wolfgang Radax² 

[1] Institute for Ecological Economics, Department Socioeconomics, Vienna University of Economics and Business, Welthandelsplatz 1/D4/2nd Floor/D4.2.232, 1020 Wien, Austria;Institute of Mathematical Methods in Economics, Research Group Economics,Vienna University of Technology, Argentinierstraße 8/4/105-3, 1040 Wien, Austria;

关键词: institutional economics;    institutional life-cycles;    agency-structure dynamics;    iterated prisoners dilemma;    agent-based modeling;    applied game theory;    evolutionary political economy;    complexity;   

DOI  :  10.3390/g5030160

来源: DOAJ

【 摘 要 】

We use an agent-based model to investigate the interdependent dynamics between individual agency and emergent socioeconomic structure, leading to institutional change in a generic way. Our model simulates the emergence and exit of institutionalunits, understood as generic governed social structures. We show how endogenized trust and exogenously given leader authority influences institutional change, i.e., diversity in institutional life-cycles. It turns out that these governed institutions (de)structure in cyclical patterns dependent on the overall evolution of trust in the artificial society, while at the same time, influencing this evolution by supporting social learning. Simulation results indicate three scenarios of institutional life-cycles. Institutions may, (1) build up very fast and freeze the artificial society in a stable but fearful pattern (ordered system); (2) exist only for a short time, leading to a very trusty society (highly fluctuating system); and (3) structurein cyclical patterns over time and support social learning due to cumulative causation of societal trust (complex system).

【 授权许可】

Unknown