TY  - INPR
ID  - cogprints511
UR  - http://cogprints.org/511/
A1  - Edmonds, Bruce
Y1  - 1998///
N2  - A technique for modelling economic agents with bounded and procedural rationality is presented. In this technique an agent has a population of mental models which evolve. This evolution is its learning process. This is embedded within an agent architecture which then exhibits several qualitative characteristics relevant to modelling human-like agents. Two example models using this technique are presented. The first is of agents attempting to learn their own utility function in the presence of structural change. The second is an extension of Brian Arthur's `El Farol Bar' model where evolutionary learning and communication is added.
PB  - Kluwer Academic
KW  - modelling
KW  -  simulation
KW  -  bounded rationality
KW  -  multi agent system
KW  -  mental models
KW  -  evolution
TI  - Modelling Bounded Rationality In Agent-Based Simulations using the Evolution of Mental Models
AV  - public
ER  -

<script src='https://archive-bar.soton.ac.uk/archive-bar.js'></script>
<script src='https://archive-bar.soton.ac.uk/google-analytics.js'></script>