An Agent-Based Model of Heterogeneous Demand

Download or read book An Agent-Based Model of Heterogeneous Demand written by Matthias Müller and published by Springer. This book was released on 2017-06-14 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: Matthias Müller makes a case for the particular role of the demand side in research on innovation. Based on a complex agent-based simulation model, he analyzes the versatile mutual relationships between consumers and producers within the innovation process. Instead of oversimplifying the demand side, the book aims to apply important aspects which too often are only applied to the supply side, e.g., the heterogeneity and bounded rationality of economic actors embedded in networks. The results offer a new perspective on the innovation process, proving that the demand side and consumers are important drivers of innovation, which must be included in future research for a full picture.