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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.

Suggested Citation

  • Situngkir, Hokky, 2010. "Landscape in the Economy of Conspicuous Consumptions," MPRA Paper 22948, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:22948
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    File URL: https://mpra.ub.uni-muenchen.de/22948/1/MPRA_paper_22948.pdf
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    References listed on IDEAS

    as
    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 0405003, University Library of Munich, Germany.
    3. Carol Graham & Andrew Felton, 2006. "Inequality and happiness: Insights from Latin America," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 4(1), pages 107-122, April.
    4. Situngkir, Hokky, 2006. "Advertising in Duopoly Market," MPRA Paper 885, University Library of Munich, Germany.
    5. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December.
    Full references (including those not matched with items on IDEAS)

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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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    More about this item

    Keywords

    conspicuous consumption; behavioral economics; agent-based simulations;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics

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