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The slides has been presented by Omid Roozmand about agent based modeling of consumer behavior

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  1. 1. Agent-Based Modeling and Simulation of Consumer Choice Omid Roozmand Environmental Studies, Dartmouth College Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  2. 2. Introduction Agent-Based Modeling Pictures: (Gilbert 2009) An agent-based model is a class of computational models for simulating the actions and interactions of autonomous agents with a view to assessing their effects on the system as a whole. Wikipedia Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  3. 3. Introduction Consumer Behavior Why do people need luxury products? Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  4. 4. Introduction (Human Behavior) Cultural Psychological How Do Consumers Behave? Social Personal Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  5. 5. ABM of Consumer Behavior - Culture (Power Distance, Individualism, Masculinity, UA) - Personality: Big Five (OCEAN) - 6 Related Needs From Maslow, Max- Neef Sociological and Psychological Theories Five Stages model of Consumer Behavior Consumer Behavior And Economics Agent-Based Technology- MASQ Meta Model Computer Science and Artificial Intelligence ABM of Consumer Behavior Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  6. 6. Agent-Based Model (MASQ Meta Model) (Ferber 2009) Internal External Mind Culture Body/Object Space ABM of Consumer Behavior Individual Collective Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  7. 7. Motivation Consumer Behavior Do we need it all? Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  8. 8. CCAD Maximizers vs. Satisficers Maximizers: Consumers will find the best bundle of product regarding their budget constraints Satisficers: Consumers are satisfied by any affordable bundle of items which provides a utility above their threshold. They are not looking for best bundle! Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  9. 9. CCAD Maximizers Algorithm Maximizers: We applied dynamic programming to find the best bundle 푏푢푛푑푙푒푏푒푠푡 = 푎푟푔 푚푎푥 (푥1, 푥2, … , 푥푛) 푛 푖=1 푥푖푢(푖푡푚푖 ) 푊ℎ푒푟푒 푖=1 푥푖푝푖 ≤ 푏푢푑푔푒푡 Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  10. 10. CCAD Satisficers Algorithm Satisficers: Genetic algorithm has been applied for satisficers to find the first affordable bundle. Genetic Algorithm is a technique in computer science to find near optimum-solutions for search problems Chromosome: Each chromosome includes a bundle of available products Chromosome’s Utility: 푁푥 ∗ 푢 푖푡푚푥 + 푁푦 ∗ 푢 푖푡푚푦 + 푁푧 ∗ 푢(푖푡푚푧 ). Chromosome’s cost: 푁푥 ∗ 푝푥 + 푁푦 ∗ 푝푦 + 푁푧 ∗ 푝푧 Feasible Chromosome: (퐶표푠푡 ≤ 퐵푑푔). Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  11. 11. CCAD Items Price Utility Item X 50 40 Item Y 30 20 Item Z 100 90 Chromosome 1 = <2, 1, 5> Utility(Chromosome 1) = 2*40 + 1*20 + 5*90 = 550 Cost(Chromosome 1) = 2*50 + 1*30 + 5*100 = 630 Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  12. 12. CCAD Satisficers Algorithm Initial Population Sort Chromosomes Crossover Mutation Re-Structure Chromosomes Satisficing Chromosome has been found Yes No Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  13. 13. CCAD- Results Maximizers- Income influence Products 1- Item X: Low-quality disposable items 2- Item Y: Low-quality durable items 3- Item Z: High-quality durable items Consumer Agents 100 Maximizers agents System 100 runs, and 6 months simulation Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  14. 14. CCAD- Results Maximizers vs. Satisficers Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  15. 15. CCAD- Results Maximizers vs. Satisficers Satisficers purchase more than Maximizers! Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  16. 16. Future Work • Adding social norms to consumer agents decision process • Building a social network and evaluating the effects of social norms on agents’ behavior • Finding the effect of consumer behavior on resource scarcity!! Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College
  17. 17. Future Work for Consumer behavior Connection of GIS Simulation with our Agent-Based Platform Agent-Based Modeling and Simulation of Consumer Behavior Omid Roozmand Environmental Studies, Dartmouth College

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