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ISSN: 2247-6172; ISSN-L: 2247-6172 Review of Applied Socio- Economic Research (Volume 5, Issue 1/ 2013 ), pp. 142 URL: http://www.reaser.eu e-mail: editors@reaser.eu The advantage of consumption for imitation is when an individual consumption based on consumption of others instead of his/her consumption in a previous time, uncertainty on the contribution that goods makes to his goals is generated. Uncertainty also is a characteristic of bounded rationality (Simon, Edgi, Viale and Marris, 1992). When calculating ∑ . ,it represents number or consumers who have consumed good for a given, that put all goods together, a vector of demand of all goods to time is obtained, ideal for later studies. In virtue of use, graphs theory (particularly no directed graphs) models a community of consumption (through the nodes) and relations among themselves (edges), a consumers' group like a society can be modeled who share information of consumption. This characteristic is desirable for those models that want to explain consequences that are generated for personal connections between the human beings. The imitation learning process can complement with variables that have not been taken into account in the model, and they are described in experiments with human beings like described in Rodas (1974). Also a substantial variation in individuals' incomes can be included within the model, constructing social strata. According to Rodas, imitative processes can be influenced by various factors, like gender and social stratum, and so on. This model does not make distinction between men or women, which is a characteristic that can be added as parameter to each individual.Some others learning process can be used instead of imitative learning (Pingle, 1995; Sutton & Barto, 1998; Ghulam, 2010). Also imitative learning and reinforcement learning can combine to improve behavior in decision making modelling. The model does not explain which ones are the initial values that should have the parameters. The choice of these values can be based on experimentation with real data or simulation processes. As to initial values of instrumental variables, possibility of electing goods that have been a product of interaction in a particular community can be considered. It is here where social and cultural characteristics can be modeled. People who have grown in different places have different patterns of consumption, but when gathered in a single place, their habits mix to generate a different consumption behavior. 5. References [1] Bergh, K. S. (2010). Evolutionary Modelling in Economics: A Survey of Methods and Building Blocks. Journal of Evolutionary Economics, Springer vol. 20(3), 329-373. [2] Boyd, R., &Richerson, P. J. (2002). Norms and Bounded Rationality. In G. Gigerenzer, & R. Selten, Bounded Rationality: The Adaptive Toolbox (pp. 281-296). The MIT Press. [3] Diestel, R. (2000). Graph Theory. New York: Springer-Verlag. [4] Ghulam, M., & Dad, H. (2010).Concept of Learning.International Journal of Psycological Studies, Vol.2 No. 2, 231-239. [5] Gigerenzer, G., &Reinhard, S. (2002). Rethinking Rationality. In G. Gigerenzer, & S. Reinhard, Bounded Rationality: The Adaptive Toolbox (pp. 1-12). Cambridge: MIT Press. [6] Özak, P. H. (2009). Adaptive Consumption Behaviour.NBER Working Paper Series, Vol. w15427.
ISSN: 2247-6172; ISSN-L: 2247-6172 Review of Applied Socio- Economic Research (Volume 5, Issue 1/ 2013 ), pp. 143 URL: http://www.reaser.eu e-mail: editors@reaser.eu [7] Pingle, M. (1995 ). Imitation Versus Rationality: An Experimental Perspective on Decision Making. Journal of Socio - Economics, 281-315. [8] Rodas, R. (1974). Variables que Influyen en la Imitación Voluntaria y en el Aprendizaje Imitativo. Revista Latinoamericana de Psicología, VI, 363-379. [9] Rosenfeld, A., &Sarit, K. (2011).Using Aspiration Adaptation Theory to Improve Learning.Proc. of 10th Int. Conf. on Autonomous Agents and Multiagent Systems (AAMAS 2011), TumerYolum, Sonenberg and Stone (eds.), May, 2 - 6, 2011, Taipei, Taiwan , xxx-xxx. [10] Sauermann, H., & Selten, R. (1962).Anspruchsanpassungstheorie der Unternehmung. Zeitschriftfür die. [11] Schuster, S. (2009, Enero 30).An Algorithm for the Simulation of Bounded Rational Agents.Unpublished. Retrieved Agosto 19, 2010, from Munich Personal RePEc Archive: http://mpra.ub.uni-muenchen.de/15942/ [12] Selten, R. (1998). Aspiration Adaptation Theory.Journal or Mathematical Psycology, 191-214. [13] Selten, R. (2002). What is Bounded Rationality. In G. Gigerenzer, & R. Selten, Bounded Rationality: The Adaptive Toolbox (p. 396). The MIT Press. [14] Simon, H. A. (1955, Febrero).A Behavioral Model of Rational Choice.The Quarterly Journal of Economics, 69(1), 99-118. [15] Simon, H. A. (1957). Models Of Man. Social and Rational. New York: John Wiley & Sons, Inc. [16] Simon, H., Egidi, M., Viale, R., &Marris, R. (1992). Economics, Bounded Rationality and the Cognitive Revolution. Cheltenham UK: Edward Elgar Publishing Limited. [17] Sutton, R., &Barto, A. (1998).Reinforcement Learning: An Introduction. Cambridge: MIT Press. [18] Todd, P. M. (2002). Fast And Frugal Heuristics for Enviromentally Bounded Minds. In G. Gigerenzer, & R. Selten, Bounded Rationality: The Adaptive Toolbox (pp. 51-70). The MIT Press.
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