A behavioral model of adaptation

Jose Apesteguia; Miguel Angel Ballester; Tugce Cuhadaroglu

doi:10.1016/j.jebo.2023.01.008

A behavioral model of adaptation

Jose Apesteguia, Miguel Angel Ballester, Tugce Cuhadaroglu^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

Abstract

Adaptation refers to the process of changing behavior in response to a variation in the environment. We propose a model of an adaptive individual that contemplates two forces: on the one hand the individual benefits from adopting the ideal response to the new environment, but on the other hand, behavioral change is costly. We lay down the axiomatic foundations of the model. We then study two applications. The first studies a situation where ideal behavior depends on the response of another adaptive individual. The second analyzes the case where the ideal response is influenced by the strategic interaction in a cheap talk-like game.

Original language	English
Pages (from-to)	146-156
Number of pages	11
Journal	Journal of Economic Behavior and Organization
Volume	207
Early online date	25 Jan 2023
DOIs	https://doi.org/10.1016/j.jebo.2023.01.008
Publication status	Published - 1 Mar 2023

Keywords

Adaptation
Intertemporal behavior
Changing tastes

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10.1016/j.jebo.2023.01.008Licence: CC BY

Apesteguia_2023_JEBA_Behavioral-model_cc
Copyright © 2023 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/)
Final published version, 584 KBLicence: CC BY

Tugce Cuhadaroglu
- tc48st-andrews.acuk
- Economics (Business School) - Lecturer
Person: Academic

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title = "A behavioral model of adaptation",

abstract = "Adaptation refers to the process of changing behavior in response to a variation in the environment. We propose a model of an adaptive individual that contemplates two forces: on the one hand the individual benefits from adopting the ideal response to the new environment, but on the other hand, behavioral change is costly. We lay down the axiomatic foundations of the model. We then study two applications. The first studies a situation where ideal behavior depends on the response of another adaptive individual. The second analyzes the case where the ideal response is influenced by the strategic interaction in a cheap talk-like game.",

keywords = "Adaptation, Intertemporal behavior, Changing tastes",

author = "Jose Apesteguia and Ballester, {Miguel Angel} and Tugce Cuhadaroglu",

note = "Funding: Financial support by the Spanish Ministry of Science and Innovation (ECO2014-56154-P), Balliol College and Royal Economic Society is gratefully acknowledged.",

year = "2023",

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doi = "10.1016/j.jebo.2023.01.008",

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T1 - A behavioral model of adaptation

AU - Apesteguia, Jose

AU - Ballester, Miguel Angel

AU - Cuhadaroglu, Tugce

N1 - Funding: Financial support by the Spanish Ministry of Science and Innovation (ECO2014-56154-P), Balliol College and Royal Economic Society is gratefully acknowledged.

PY - 2023/3/1

Y1 - 2023/3/1

N2 - Adaptation refers to the process of changing behavior in response to a variation in the environment. We propose a model of an adaptive individual that contemplates two forces: on the one hand the individual benefits from adopting the ideal response to the new environment, but on the other hand, behavioral change is costly. We lay down the axiomatic foundations of the model. We then study two applications. The first studies a situation where ideal behavior depends on the response of another adaptive individual. The second analyzes the case where the ideal response is influenced by the strategic interaction in a cheap talk-like game.

AB - Adaptation refers to the process of changing behavior in response to a variation in the environment. We propose a model of an adaptive individual that contemplates two forces: on the one hand the individual benefits from adopting the ideal response to the new environment, but on the other hand, behavioral change is costly. We lay down the axiomatic foundations of the model. We then study two applications. The first studies a situation where ideal behavior depends on the response of another adaptive individual. The second analyzes the case where the ideal response is influenced by the strategic interaction in a cheap talk-like game.

KW - Adaptation

KW - Intertemporal behavior

KW - Changing tastes

U2 - 10.1016/j.jebo.2023.01.008

DO - 10.1016/j.jebo.2023.01.008

M3 - Article

SN - 0167-2681

VL - 207

SP - 146

EP - 156

JO - Journal of Economic Behavior and Organization

JF - Journal of Economic Behavior and Organization

ER -

A behavioral model of adaptation

Abstract

Keywords

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Tugce Cuhadaroglu

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