A behavioral model of adaptation

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dc.contributor.authorApesteguía, José
dc.contributor.authorBallester, Miguel A.
dc.contributor.authorCuhadaroglu, Tugce
dc.date.accessioned2023-03-14T07:10:54Z
dc.date.available2023-03-14T07:10:54Z
dc.date.issued2023
dc.description.abstractAdaptation 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.
dc.description.sponsorshipWe thank Larbi Alaoui, Luc Bridet, Vince Crawford, Faruk Gul, Margherita Negri, Pedro Rey-Biel and Andy Zapechelnyuk for very helpful comments. We are also grateful to two anonymous referees for their careful work and insightful suggestions. Financial support by FEDER/Ministerio de Ciencia de Innovacion (Agencia Estatal de Investigacion) through Grant PGC2018-098949-B-I00 and through the Severo Ochoa Programme for Centres of Excellence in R&D (Barcelona School of Economics CEX2019- 000915-S), Balliol College and Royal Economic Society is gratefully acknowledged.
dc.format.mimetypeapplication/pdf
dc.identifier.citationApesteguia J, Ballester MA, Cuhadaroglu T. A behavioral model of adaptation. Journal of Economic Behavior & Organization. 2023 Mar;207:146-56. DOI: 10.1016/j.jebo.2023.01.008
dc.identifier.doihttp://dx.doi.org/10.1016/j.jebo.2023.01.008
dc.identifier.issn0167-2681
dc.identifier.urihttp://hdl.handle.net/10230/56203
dc.language.isoeng
dc.publisherElsevier
dc.relation.ispartofJournal of Economic Behavior & Organization. 2023 Mar;207:146-56
dc.relation.projectIDinfo:eu-repo/grant/Agreement/ES/2PE/PGC2018-098949-B-I00
dc.relation.projectIDinfo:eu-repo/grantAgreement/ES/2PE/CEX2019-000915-S
dc.rights© 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/).
dc.rights.accessRightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/
dc.subject.keywordAdaptation
dc.subject.keywordIntertemporal behavior
dc.subject.keywordChanging tastes
dc.titleA behavioral model of adaptation
dc.typeinfo:eu-repo/semantics/article
dc.type.versioninfo:eu-repo/semantics/publishedVersion

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