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The Settlers Of Catan And A Study Of Trade In Non-Cooperative Games, Dmitriy Ioselevich

Honors Capstone Projects - All

Free trade has long been hailed as the world’s answer to increased competitiveness, greater overall wealth and a higher standard of living. Adam Smith’s ideas on the foundations of capitalism assert that open market policies lead to global economic growth, and conversely that protectionist measures stunt growth and inflate prices. Critics argue that protectionism helps protect developing markets and industries and prevents unfair competition. But in the debate over trade which economic policy is actually best?

To answer this question I conducted an experiment using the board game, The Settlers of Catan, as an economic model. I isolated trade …