TY  - CONF
T1  - Simulating Bounded Rationality in Decision-Making: An Agent-Based Choice Modelling of Vehicle Purchasing
A1  - Nguyen, Khoa
A1  - Piana, Valentino
A1  - Schumann, René
TI  - Proceedings of the Social Simulation Conference
Y1  - 2022
M2  - doi: 10.1007/978-3-031-34920-1_34
N2  - This paper investigates the possibility of simulating bounded rationality effects in an agent’s decision-making scheme by limiting its capability of perceiving information and utilising a decision-making framework of Triandis’ Theory of Interpersonal Behaviour. Based on previous work on an agent-based platform, BedDeM, we propose how to capture the effects of sequential, emotional, habitual and multi-criteria decision-making. The Perception component in the agent is further extended to take into account confirmation bias and the bandwagon effect. We demonstrate the functionality of this model in the context of purchasing vehicles in Switzerland’s households.
ER  -