TY - GEN
T1 - A cross-cultural multi-agent model of opportunism in trade
AU - Hofstede, Gert Jan
AU - Jonker, Catholijn M.
AU - Verwaart, Tim
PY - 2010
Y1 - 2010
N2 - According to transaction cost economics, contracts are always incomplete and offer opportunities to defect. Some level of trust is a sine qua non for trade. If the seller is better informed about product quality than the buyer, the buyer has to rely on information the seller provides or has to check the information by testing the product or tracing the supply chain processes, thus incurring extra transaction cost. An opportunistic seller who assumes the buyer to trust, may deliver a lower quality product than agreed upon. In human decisions to deceive and to show trust or distrust, issues like mutual expectations, shame, self-esteem, personality, and reputation are involved. These factors depend in part on traders' cultural background. This paper proposes an agent model of deceit and trust and describes a multi-agent simulation where trading agents are differentiated according to Hofstede's dimensions of national culture. Simulations of USA and Dutch trading situations are compared. © 2010 Springer-Verlag Berlin Heidelberg.
AB - According to transaction cost economics, contracts are always incomplete and offer opportunities to defect. Some level of trust is a sine qua non for trade. If the seller is better informed about product quality than the buyer, the buyer has to rely on information the seller provides or has to check the information by testing the product or tracing the supply chain processes, thus incurring extra transaction cost. An opportunistic seller who assumes the buyer to trust, may deliver a lower quality product than agreed upon. In human decisions to deceive and to show trust or distrust, issues like mutual expectations, shame, self-esteem, personality, and reputation are involved. These factors depend in part on traders' cultural background. This paper proposes an agent model of deceit and trust and describes a multi-agent simulation where trading agents are differentiated according to Hofstede's dimensions of national culture. Simulations of USA and Dutch trading situations are compared. © 2010 Springer-Verlag Berlin Heidelberg.
UR - https://www.scopus.com/pages/publications/78649579452
UR - https://www.scopus.com/inward/citedby.url?scp=78649579452&partnerID=8YFLogxK
U2 - 10.1007/978-3-642-17155-0_2
DO - 10.1007/978-3-642-17155-0_2
M3 - Conference contribution
T3 - Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
SP - 24
EP - 45
BT - Transactions on Computational Collective Intelligence II
A2 - Nguyen, N.T.
A2 - Kowalczyk, R.
ER -