Modelling Maritime Trade Systems: Agent-Based Simulation and Medieval History

Maritime trade grew enormously in Europe after c. 1100 AD, thereby contributing much to the European economic take-off commonly considered as the "Commercial Revolution of the Middle Ages." In this article, determinants of both the formation of the Hanse's network based system of trade in Northern Europe and its later dissolution are analysed using a multi-agent model. Findings are connected to the discussion in institutional economics and economic history concerning the importance of institutional developments in long-distance trade for economic growth in medieval Europe, the efficiency of self-enforcing institutions, and the divergence of institutional arrangements in medieval maritime trade. Finally, both potentials and limitations of agent-based models for historical research are discussed.