An agent-based simulation of the emergence of partnership systems in early renaissance florence

Abstract

The emergence of the partnership system in Early Renaissance Florence is often noted as a pivotal moment in the formation of capitalism. However, this social invention was not developed as a completely redefined system, but was the gradual process of adapting guild partnerships to domestic and international business. The purpose for this paper is to describe a simplistic agent-based model, where individuals form partnerships based on paradigms common in the medieval Florentine economy, as well as the results of the simulations. The final result is the emergence of entirely different partnership network structures, consistent with the structures seen in the early 15th century, as well as a rise in individual capital which led to the success of this system replicating itself across the European landscape.