EconPapers    
Economics at your fingertips  
 

Bridging behavioural factors and standard bio‐economic modelling in an agent‐based modelling framework

Robert Huber, Hang Xiong, Kevin Keller and Robert Finger

Journal of Agricultural Economics, 2022, vol. 73, issue 1, 35-63

Abstract: Agent‐based models are important tools for simulating farmers’ behaviour in response to changing environmental, economic or institutional conditions and policies. This article introduces an agent‐based modelling approach that combines behavioural factors with standard bio‐economic modelling of agricultural production. More specifically, our framework integrates the cumulative prospect theory and social interactions with constrained optimisation decisions in agricultural production. We apply our modelling approach to an exemplary bio‐economic model on the assessment of weed control decisions. Results show the effects of heterogeneous farm decision‐making and social networks on mechanical weed control and herbicide use. This framework provides a generic and conceptually sound approach to improve the scope for representing farmers’ decision‐making and allows the simulation of their decisions and recent advances in behavioural economics to be aligned with existing bio‐economic models of agricultural systems.

Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://doi.org/10.1111/1477-9552.12447

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:jageco:v:73:y:2022:i:1:p:35-63

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0021-857X

Access Statistics for this article

Journal of Agricultural Economics is currently edited by David Harvey

More articles in Journal of Agricultural Economics from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().

 
Page updated 2023-01-08
Handle: RePEc:bla:jageco:v:73:y:2022:i:1:p:35-63