Similar Search Results

A model of boundedly rational consumer choice : an agent based approach

Riechmann, Thomas - 2000

Persistent link: https://www.econbiz.de/10001476021

A model of boundedly rational consumer choice : an agent based approach

Riechmann, Thomas - 2000

The paper presents an extended version of the consumer choice problem. Different from the standard model, prices are not fixed but arise from Walrasian interactions of total demand and a stylized supply function for each of the goods. Three different types of evolutionary algorithms are set up...

Persistent link: https://www.econbiz.de/10011526771

Fast computation algorithm for the random consideration set model

Lee, Young Hwan - In: Economics letters 179 (2019), pp. 38-41

Persistent link: https://www.econbiz.de/10012121683

A heuristic approach to explore : the value of perfect information

Shahrokhi Tehrani, Shervin; Ching, Andrew - In: Management science : journal of the Institute for … 70 (2024) 5, pp. 3200-3224

Persistent link: https://www.econbiz.de/10014551265

Generalized bounded rationality and robust multicommodity network design

Sun, Longsheng; Karwan, Mark H.; Kwon, Changhyun - In: Operations research 66 (2018) 1, pp. 42-57

Persistent link: https://www.econbiz.de/10011818591

Optimal Quantitative Easing

Harrison, Richard - 2017

I study optimal monetary policy in a simple New Keynesian model with portfolio adjustment costs. Purchases of long-term debt by the central bank (quantitative easing; ‘QE') alter the average portfolio return and hence influence aggregate demand and inflation. The central bank chooses the...

Persistent link: https://www.econbiz.de/10012946995

Optimal quantitative easing

Harrison, Richard - 2017

Persistent link: https://www.econbiz.de/10011741247

Is there an optimization in bounded rationality? : The ratio of aspiration levels

Beckenkamp, Martin (contributor) - 2004

Simons̕ (1955) famous paper was one of the first to cast doubt on the validity of rational choice theory; it has been … supplemented by many more papers in the last three and a half decades. Nevertheless, rational choice theory plays a crucial role in … classical and neoclassical economic theory, which presumes a completely rational agent. The central points characterizing such …

Persistent link: https://www.econbiz.de/10002526505

Optimal Bounded Investment Behaviour

Tsachev, Tsvetomir - 2015

We study the investment behaviour of a producer maximizing the present value of his firm over an infinite time horizon and having investments bounded below by zero (irreversibility of capital) and bounded above by his current profit (capital market imperfections). In our model the interest rate,...

Persistent link: https://www.econbiz.de/10013025441

Robust Assortment Revenue Optimization and Satisficing

Hu, Bin; Jin, Qingwei; Long, Daniel Zhuoyu - 2022

We consider an assortment optimization problem where the retailer needs to choose a set of products to offer to customers from the range of available products. By choosing the assortment, which will affect customers' purchase choice, the retailer aims to obtain a high expected revenue. We study...

Persistent link: https://www.econbiz.de/10014237397