Affiliation:
1. Urban Planning Group, Eindhoven University of Technology, PO Box 513, 5600 MB Eindhoven, The Netherlands
Abstract
This paper presents an agent-based model developed to simulate residential choice behaviour in a nonstationary housing market. The model is built around the assumption that agents have incomplete and imperfect knowledge, and thus have to base their decisions on beliefs. The aim is to illustrate how the agents deal with the uncertainty inherent in these beliefs, both at the level of a single agent, deciding among a set of successive actions, and at the level of a group of agents, negotiating over the price of a house.
Subject
Environmental Science (miscellaneous),Geography, Planning and Development
Cited by
32 articles.
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