Modeling Power Distance in Trade

G.J. Hofstede, C.M. Jonker, D. Verwaart

Research output: Chapter in Book/Report/Conference proceedingChapterAcademicpeer-review


Agent-based computational economics studies the nature of economic processes by means of artificial agents that simulate human behavior. Human behavior is known to be scripted by cultural background. The processes of trade partner selection and negotiation work out differently in different communities. Different communities have different norms regarding trust and opportunism. These differences are relevant for processes studied in economics, especially for international trade. This paper takes Hofstede’s model of national culture as a point of departure. It models the effects on trade processes of one of the five dimensions: power distance. It formulates rules for the behavior of artificial trading agents and presents a preliminary verification of the rules in a multi-agent simulation
Original languageEnglish
Title of host publicationMulti-Agent-based Simulation IX, International Workshop, MAPS 2008, Estoril, Portugal, May 12-13, 2008
EditorsN. David, J.S. Sichman
Place of PublicationHeidelberg
Number of pages16
Publication statusPublished - 2009

Publication series

NameLecture Notes in Computer Science


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