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Landscape in the Economy of Conspicuous Consumptions

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  • Situngkir, Hokky

Abstract

Psychological states side by side with the bounded rational expectations among social agents contributes to the pattern of consumptions in economic system. One of the psychological states are the envy – a tendency to emulate any gaps with other agents’ properties. The evolutionary game theoretic works on conspicuous consumption are explored by growing the micro-view of economic agency in lattice-based populations, the landscape of consumptions. The emerged macro-view of multiple equilibria is shown in computational simulative demonstrations altogether with the spatial clustered agents based upon the emerged agents’ economic profiles.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 22948.

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Date of creation: 07 May 2010
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Handle: RePEc:pra:mprapa:22948

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Keywords: conspicuous consumption; behavioral economics; agent-based simulations;

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References

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  1. Daniel Friedman, 1998. "On economic applications of evolutionary game theory," Journal of Evolutionary Economics, Springer, vol. 8(1), pages 15-43.
  2. Hokky Situngkir, 2004. "Money-Scape: A Generic Agent-Based Model of Corruption," Computational Economics 0405008, EconWPA.
  3. Situngkir, Hokky, 2006. "Advertising in Duopoly Market," MPRA Paper 885, University Library of Munich, Germany.
  4. Carol Graham & Andrew Felton, 2006. "Inequality and happiness: Insights from Latin America," Journal of Economic Inequality, Springer, vol. 4(1), pages 107-122, April.
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Cited by:
  1. Situngkir, Hokky & Prasetyo, Yanu Endar, 2012. "On social and economic spheres: an observation of the “gantangan” Indonesian tradition," MPRA Paper 39671, University Library of Munich, Germany.

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