IDEAS home Printed from https://ideas.repec.org/h/spr/prbchp/978-3-319-99187-0_13.html
   My bibliography  Save this book chapter

Experimental Study of Consumer Behavior Using Agent-Based Simulation

In: Problems, Methods and Tools in Experimental and Behavioral Economics

Author

Listed:
  • Fatimah Furaiji

    (University of Basra)

  • Małgorzata Łatuszyńska

    (University of Szczecin)

Abstract

The consumer is a key element in the marketing. Examining consumer behavior allows for a better understanding and forecasting factors influencing purchasing decisions, which in turn facilitates the formulation of effective marketing strategies. The aim of this study was to work out methodological basis for analyzing consumer behavior with application of agent-based simulation (ABS) as well as conducting simulation experiments using the elaborated methodology. The chapter presents ABS in the context of its applications in marketing research, proposes the methodology for consumer behavior analysis with the use of ABS, describes the concept of agent-based simulation model for investigating consumer behavior, and finally shows the results of simulation experiments executed for a case study. The case study focuses on the consumer behavior to buy electric appliances in Basra city and experiments relates to five exemplary marketing strategies. The results of the experiments confirm that the agent-based model can be a powerful tool for examining alternative marketing strategies rapidly, relatively cheaply, without requiring the actual commitment of resources.

Suggested Citation

  • Fatimah Furaiji & Małgorzata Łatuszyńska, 2018. "Experimental Study of Consumer Behavior Using Agent-Based Simulation," Springer Proceedings in Business and Economics, in: Kesra Nermend & Małgorzata Łatuszyńska (ed.), Problems, Methods and Tools in Experimental and Behavioral Economics, chapter 0, pages 167-183, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-99187-0_13
    DOI: 10.1007/978-3-319-99187-0_13
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:prbchp:978-3-319-99187-0_13. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.