How appropriate are myopic optimization models to predict decision behaviour: A comparison between agent-based models and business management games
Agent-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.
|Date of creation:||02 Sep 2011|
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- Happe, Kathrin & Balmann, Alfons & Kellermann, Konrad & Sahrbacher, Christoph, 2008. "Does structure matter? The impact of switching the agricultural policy regime on farm structures," Journal of Economic Behavior & Organization, Elsevier, vol. 67(2), pages 431-444, August.
- Sandri, Serena & Schade, Christian & Musshoff, Oliver & Odening, Martin, 2010.
"Holding on for too long? An experimental study on inertia in entrepreneurs’ and non-entrepreneurs’ disinvestment choices,"
Structural Change in Agriculture/Strukturwandel im Agrarsektor (SiAg) Working Papers
59518, Humboldt University Berlin, Department of Agricultural Economics.
- Sandri, Serena & Schade, Christian & Mußhoff, Oliver & Odening, Martin, 2010. "Holding on for too long? An experimental study on inertia in entrepreneurs' and non-entrepreneurs' disinvestment choices," Journal of Economic Behavior & Organization, Elsevier, vol. 76(1), pages 30-44, October.
- Balmann, Alfons & Kellermann, Konrad & Larsen, Karin & Sandri, Serena & Schade, Christian, 2010. "Coordination and allocation on land markets under increasing scale economies and heterogeneous actors - An experimental study," 114th Seminar, April 15-16, 2010, Berlin, Germany 61093, European Association of Agricultural Economists.
- Musshoff, Oliver & Hirschauer, Norbert & Wassmuss, Harm, 2009. "The Role of Bounded Rationality in Farm Financing Decisions – First Empirical Evidence –," 2009 Conference, August 16-22, 2009, Beijing, China 51545, International Association of Agricultural Economists.
- Kathrin Happe, 2005. "Agricultural policies and farm structures - agent-based simulation and application to EU-policy reform," Others 0504011, EconWPA.
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