Modelling Bounded Rationality In Agent-Based Simulations using the Evolution of Mental Models

Contents

Contents

Abstract

1 - Introduction

2 - Modelling Boundedly Rational Economic Agents

3 - The Agent Architecture

4 - Adapting the GP Paradigm

5 - Applications

5.1 - Implementation of the Models

5.2 - Example 1- utility learning agent facing structural change

5.2.1 - General Description

5.2.2 - Results

5.3 - Example 2 - Communication, Learning and the El Farol Bar Problem

5.3.1 - The El Farol Bar Model

5.3.2 - Extending the El Farol Model

5.3.3 - Results and A Case Study From the Model

5.3.4 - The emergence of heterogeneity

6 - Conclusion

Acknowledgements

References

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