The international economics of resources and resource ... - Index of

324 F. Beckenbach, R. Briegel
Fig. 2 Specification of agent’s behavior
of goal attainment in a given time step. For each of these goal components
parameters in terms of weight (w1, w2) and elasticity (ε1, ε2) are given. The force
components for profit aspiration and market share aspiration can be formalized
as:
f 1ðÞ¼w1 t
aspðÞ t
pt ðÞ
"2 asmðÞ t
f 2ðÞ¼w2 t
: ð4Þ
mt ðÞ
The aspiration levels included in these force components are updated at the end of
each time step. For the profit aspiration this updating formally means:
"1
ð3Þ
aspðtþ1Þ ¼ ð1fÞ aspðÞþfp t ðÞ t
ð5Þ
(and analogously for asm) where f is the flexibility of adaptation, which is another
personal trait (0 f 1).
Then the force directed to imitation can be formalized as:
F1 ¼ f 1 þ f 2
ð6Þ
cim
with cim as the parameter for the expected costs of an imitation.
The force directed to innovation also includes the essential force components f1
and f2. But it has three features making it different from the imitation force: Firstly,
due to the nature of the innovation process curiosity (f0) has to be included.