Instructive issues with a trading simulation

It is basically poker. All traders buy bids in the market and get an equal share of the winnings if they are right.

I want to game to be infinite so I can look at the time series, but very quickly someone goes bankrupt as the unlucky finance the lucky. This is the first observation of economies with a closed amount of wealth (like a gold currency): since the amount of gold never changes all that happens is that people lose wealth to other people.

To create new traders to replace bankrupt ones a few decisions must be made:
(1) What to do with their debt.
(2) How to finance the creation of a child.

(1) I've chosen to apply a universal tax so that national debt is recovered as a percentage of your wealth.
(2) Again this could be via national taxation, but the question arises which child to create?

In this sim traders have DNA strings which decide their bidding behaviour. So the question is which DNA string to replicate for the children.

If we adopt universal taxation then we could create children from random DNA to be impartial. Alternatively we could create children from the DNA of the most successful traders to improve the trading skill of the population.

The most realistic is not to tax but to ask traders if they wish to create a child. If they spend too much on a child they risk redundancy themselves, so their is a risk involved. So the question then arises what is the reward for a trader to have a child?

In terms of the population this has the great benefit that it will evolve a better population. But from the point of view of the individual trader what gain is there in having a child?

One benefit in the real world is that you have a loyal helper. But how do I encode that in this sim without making it overly complex.

The goal is just to create time series for study that reflect populations of competing bidders. But the question of how to replace the bankrupt seems to be quite a huge one.