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Harvesting Behavior in a Simulated Lotka-Volterra Model
An Availability Fallacy

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Abstract:
Ulrike Leopold-Wildburger 1, Stefan Pickl 2

1 University of Graz, Department of Statistics and Operations Research
2 University of the Federal Armed Forces Munich, Institute of Applied Systems Science and Information Systems

For the analysis presented in this paper we use an experiment to study human behavior in a simulated environment based on a simple Lotka-Volterra predator-prey model. The aim is to maximize the profit of the harvest of prey and predator simultaneously and to study the influence of different harvesting strategies on the outcome in terms economic performance. The results of the empirical analysis show that the behavior of the participants is significantly dependent on the amount of available objects, independent of the revenue. Subjects perform efficiently according to the rules when valuable objects are prey, however behave significantly inefficient when high price objects are predator.

Keywords: Experimental Economics, Simulation Method, Predator Prey Model, Availability Behavior, Harvesting Strategies, Fallacy.

http://www.uni-graz.at/sor/Mitarbeiter/Leopold.htm
Type of Seminar:
Optimization and Applications Seminar
Speaker:
Prof. Ulrike Leopold-Wildburger
Universität Graz, Austria
Date/Time:
Sep 20, 2010   16:30-18:00
Location:

ETHZ Rämistrasse 101, HG G 19.1
Contact Person:

Prof. John Lygeros
No downloadable files available.
Biographical Sketch:
http://www.uni-graz.at/sor/Mitarbeiter/Leopold/CV.htm