Individual Risk and Innovative Behavior: A Neo-Schumpeterian Agent-Based Analysis

This dissertation focuses on the effects of public intervention on the future-orientation of an economy by implementing an agent-based model designed to provide insight on certain causalities between the public sector and the innovativeness of an economy which can be inferred following the Comprehensive Neo-Schumpeterian Economics (CNSE) approach.We present a model which integrates the three-pillar-idea central to the CNSE into an agent-based setup designed to simulate innovative behavior in a society where social insurance can be offered. It can provide insight on the question if a public body can foster innovation by offering social insurance for the members of its society. This is achieved by modeling the real sector, the financial sector as well as the public sector and their interaction with the individual agents. It is then possible to analyze the emerging structure and dynamics and link the results to a Neo-Schumpeterian welfare discussion by including the future-orientation of a system into the analysis. This enables us to shed light on the task of fostering innovation through public policy measures and specifically through offering social insurance.