How appropriate are myopic optimization models to predict decision behaviour: A comparison between agent-based models and business management games
AbstractAgent-based models (ABM) are used in many cases of policy assessment in agriculture. But the behavioural assumptions of these models consider farmers as myopic optimizing profit maximizers. In this contribution we compare the behaviour of myopic computer agents with the behaviour of students playing a multi period business management game. We aim to answer the question, how far are agent-based models valid to map “real” human behaviour, so that ABM can be used well for policy impact assessment.
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Bibliographic InfoPaper provided by European Association of Agricultural Economists in its series 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland with number 115994.
Date of creation: 02 Sep 2011
Date of revision:
Agent-based models; business management games; policy impact analysis; Research Methods/ Statistical Methods; C63; C93; D22; Q18;
Find related papers by JEL classification:
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
- C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
- D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
- Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy
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