Mitigating randomness of consumer preferences under certain conditional choices

Agent-based crowd behaviour consists a significant field of research that has drawn a lot of attention in recent years. Agent-based crowd simulation techniques have been used excessively to forecast the behaviour of larger or smaller crowds in terms of certain given conditions influenced by specific cognition models and behavioural rules and norms, imposed from the beginning. Our research employs conditional event algebra, statistical methodology and agent-based crowd simulation techniques in developing a behavioural econometric model about the selection of certain economic behaviour by a consumer that faces a spectre of potential choices when moving and acting in a multiplex mall. More specifically we try to analyse the influence of demographic, economic, social and cultural factors on the economic behaviour of a certain individual and then we try to link its behaviour with the general behaviour of the crowds of consumers in multiplex malls using agent-based crowd simulation techniques. We then run our model using Generalized Least Squares and Maximum Likelihood methods to come up with the most probable forecast estimations, regarding the agent’s behaviour. Our model is indicative about the formation of consumers’ spectre of choices in multiplex malls under the condition of predefined preferences and can be used as a guide for further research in this area.