Closed jakobkolb closed 7 years ago
After meeting with Jobst Heitzig: There is two possibilities to implement Fast and Frugal Heuristics: a) in the actual investment decision b) in the social learning process. In addition to the previously considered cues (r_j, d/dt r_j and ethic marker) the behavior of the households peers could play a role too.
Done as of commit 11b0ee411e08255b68e94691837f327ce5e11180
until now, beliefs of agents are treated by a binary value that marks whether they put their savings into one or the other sector. According to model design, this is supposed to be done by a decision heuristics which structure is the agents 'belief' and which prescribes his decision making according to timely information from the model dynamics. For the current decision (binary choice from two options) the appropriate solution is a Take The Best heuristic. The cues for each option should be: 1) capital rent rate 2) trend of the capital rent rate (increasing/falling) and the trait of whether the investment is green/dirty. The order, in which these cues are evaluated form the preferences/values of the agent.