A mathematical model for consumers based on aspiration adaptation theory and bounded rationality
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References listed on IDEAS
- Pingle, Mark, 1995. "Imitation versus rationality: An experimental perspective on decision making," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 24(2), pages 281-315.
- Schuster, Stephan, 2009. "An Algorithm for the Simulation of Bounded Rational Agents," MPRA Paper 15942, University Library of Munich, Germany.
- Herbert A. Simon & Massimo Egidi & Ricardo Viale & Robin Marris, 1992. "Economics, Bounded Rationality and the Cognitive Revolution," Books, Edward Elgar Publishing, number 409.
More about this item
Keywordsaspiration adaptation theory; bounded rationality; imitation; consumer's theory;
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
- D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
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