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Abstract

This paper tests the basic premise of rationality and introduces sustainability as a new dimension. In this regard, the behavioral consequences of the classic rational mindset and a sustainable mindset are compared under depletion of environmental resources. By utilizing agent-based modeling, both rational and sustainable mindsets are modeled and their relative behavior are put into action in computer simulation. The experiment results reveal that the classic understanding of rationality is not always going to maximize the utility of agents. Instead, there might be environmental conditions where having a sustainable mindset generates more wealth. In a scenario of resource depletion, the chances of survival decrease for rational agents. Their situation is exacerbated if their level of greed increases. However, the sustainable agents continue making stable wealth even with limited environmental resources. Rational actors must develop a sustainable mindset in order to acclimatize themselves to environmental deterioration.

DOI

10.15760/hgjpa.2017-2.3

Persistent Identifier

http://archives.pdx.edu/ds/psu/20318

Creative Commons License

Creative Commons Attribution-Noncommercial 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 4.0 License.