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BRA: An Algorithm for Simulating Bounded Rational Agents


  • Stephan Schuster



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Suggested Citation

  • Stephan Schuster, 2012. "BRA: An Algorithm for Simulating Bounded Rational Agents," Computational Economics, Springer;Society for Computational Economics, vol. 39(1), pages 51-69, January.
  • Handle: RePEc:kap:compec:v:39:y:2012:i:1:p:51-69 DOI: 10.1007/s10614-010-9231-1

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    References listed on IDEAS

    1. Kirman, Alan P. & Vriend, Nicolaas J., 2001. "Evolving market structure: An ACE model of price dispersion and loyalty," Journal of Economic Dynamics and Control, Elsevier, vol. 25(3-4), pages 459-502, March.
    2. LeBaron, Blake & Arthur, W. Brian & Palmer, Richard, 1999. "Time series properties of an artificial stock market," Journal of Economic Dynamics and Control, Elsevier, vol. 23(9-10), pages 1487-1516, September.
    3. Brenner, Thomas, 2006. "Agent Learning Representation: Advice on Modelling Economic Learning," Handbook of Computational Economics,in: Leigh Tesfatsion & Kenneth L. Judd (ed.), Handbook of Computational Economics, edition 1, volume 2, chapter 18, pages 895-947 Elsevier.
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    Cited by:

    1. Lindkvist, Emilie & Norberg, Jon, 2014. "Modeling experiential learning: The challenges posed by threshold dynamics for sustainable renewable resource management," Ecological Economics, Elsevier, vol. 104(C), pages 107-118.
    2. Schuster, Stephan, 2012. "Applications in Agent-Based Computational Economics," MPRA Paper 47201, University Library of Munich, Germany.

    More about this item


    Agent based modelling; Bounded rationality; Reinforcement learning; C63;

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques


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