creators_name: Edmonds, Bruce
editors_name: Brenner, Thomas
type: bookchapter
datestamp: 1998-08-07
lastmod: 2011-03-11 08:54:01
metadata_visibility: show
title: Modelling Bounded Rationality In Agent-Based Simulations using the Evolution of Mental Models
ispublished: inpress
subjects: cog-psy
subjects: comp-sci-art-intel
subjects: comp-sci-complex-theory
subjects: comp-sci-mach-learn
subjects: evol-psy
subjects: soc-psy
full_text_status: public
keywords: modelling, simulation, bounded rationality, multi agent system, mental models, evolution
abstract: 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.
date: 1998
date_type: published
publication: Computational Techniques for Modelling Learning in Economics
publisher: Kluwer Academic
refereed: FALSE
citation:   Edmonds, Bruce  (1998) Modelling Bounded Rationality In Agent-Based Simulations using the Evolution of Mental Models.  [Book Chapter]    (In Press)  
document_url: http://cogprints.org/511/1/mbremmA4.ps
document_url: http://cogprints.org/511/5/mbremm.pdf