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Simulating Bounded Rationality in Decision-Making: An Agent-Based Choice Modelling of Vehicle Purchasing
Type of publication: Inproceedings
Citation:
Booktitle: Proceedings of the Social Simulation Conference
Year: 2022
Month: September
Howpublished: to be published in the Proceedings of the Social Simulation Conference 2022
DOI: 10.1007/978-3-031-34920-1_34
Abstract: 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.
Keywords:
Authors Nguyen, Khoa
Piana, Valentino
Schumann, René
Added by: []
Total mark: 0
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  • NguyenPianaSchumann_SSC2022_CR...
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