We propose a behavioral heterogeneous agent New Keynesian model in which monetary policy is amplified through indirect general equilibrium effects, fiscal multipliers can be larger than one and which delivers empirically-realistic intertemporal marginal propensities to consume. Simultaneously,...

This study examines suppliers’ decision-making regarding supply chain ethics and transparency using an agent-based model with Q-learning agents. A supplier may not accurately identify the demand for its product because the impact of supply chain ethics on the market is opaque. Thus, we define...

Subscription decision in the telecom market is quite complex and cumbersome, invoking decision inertia in consumers and resulting in suboptimal choices. We implemented choice inertia and consumer interaction as an agent-based model to better understand the process. The model illustrates that...

Computing population moments for heterogeneous agent models is a necessary step for their estimation and evaluation. Computation based on Monte Carlo methods is usually time- and resource-consuming because it involves simulating a large sample of agents and potentially tracking them over time....

Soaring energy prices since fall 2021 have prompted European governments to introduce policy measures to support households and businesses. In this paper, we employ the MATRIX model, a multi-sector and multi-agent macroeconomic model calibrated on the Euro Area, to analyze the economic and...

Worldwide, with different frequencies and magnitudes, coastlines are increasingly being affected by climate change hazards. The high urbanization rate, due to economic opportunities and natural amenities, further exacerbates vulnerabilities in these areas, requiring prompt and effective...

We build a parsimonious agent-based model under the adaptive market hypothesis (AMH), which can explain the formation of equilibrium prices and market efficiency dynamics. Our model combines heterogeneous interacting agents, switching behavior, and investor feedback on past realized returns,...