Abstract
Motivated by the large-scale applicability of complex networks, we propose a novel socioeconomic simulator inspired by empirical observations and state-of-the-art economic models. As such, our Trade and Economic Simulator (TrEcSim) is able to use any fundamental complex network topology as an underlying exchange network, and it also introduces a novel heuristic approach to drive the behavior of economic agents, according to theories pertaining to main schools of economic thought. Our simulation results indicate that TrEcSim is a valuable tool for simulating the dynamics of trade in economic networks. Indeed, our simulation results indicate a correlation between the topological properties of the economic exchange networks and the distribution of total payoff: for random and small-world the distribution is meritocratic, whereas for scale-free networks it is topocratic.
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Notes
- 1.
TrEcSim is freely available at https://github.com/trecsim/trecsim.
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Acknowledgements
The authors would like to the thank Alexandru Stana for his contributions to the development of TrEcSim’s first version. We also want to express our gratitude to both Alexandru Topirceanu and Alexandru Iovanovici for their insights and constant support throughout the development phases of our simulator.
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Barina, G., Sicoe, C., Udrescu, M., Vladutiu, M. (2018). Simulating Trade in Economic Networks with TrEcSim. In: Alhajj, R., Hoppe, H., Hecking, T., Bródka, P., Kazienko, P. (eds) Network Intelligence Meets User Centered Social Media Networks. ENIC 2017. Lecture Notes in Social Networks. Springer, Cham. https://doi.org/10.1007/978-3-319-90312-5_12
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