A behavioral model of adaptation

Jose Apesteguia, Miguel Angel Ballester, Tugce Cuhadaroglu*

*Corresponding author for this work

    Research output: Contribution to journalArticlepeer-review

    11 Downloads (Pure)

    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 languageEnglish
    Pages (from-to)146-156
    Number of pages11
    JournalJournal of Economic Behavior and Organization
    Volume207
    Early online date25 Jan 2023
    DOIs
    Publication statusPublished - 1 Mar 2023

    Keywords

    • Adaptation
    • Intertemporal behavior
    • Changing tastes

    Fingerprint

    Dive into the research topics of 'A behavioral model of adaptation'. Together they form a unique fingerprint.

    Cite this