What model features and calibration strategies yield a large average marginal propensity to consume (MPC) in heterogeneous agent models? Through a systematic investigation of models with different preferences, dimensions of ex-ante heterogeneity, income processes, and asset structures, we show...

Agent-based economics has emerged to complement analytical and empiricalmethods by allowing for more complex heterogeneity in models. Extending theagent-based global trade model Acclimate with five consumer groups, we studyheterogeneity of market emerging consumption price elasticity in response...

A behavioral model incorporating utility based rational choice enhanced with psychological drivers is presented to study a consumer goods market, characterized by repeat purchase incidences by households. The psychological drivers incorporate purchase strategies of loyalty and change-of-pace,...

In recent decades, the prevailing neoliberal discourse has highlighted the active role of the consumer. The consumer agency is associated with several factors: the rhetoric of advertising that emphasizes complicity with the consumer; technologies of self through which consumers act as...

An Agent-Based Model (ABM) accounting for tax-morale and loss-aversion was implemented over different network systems with social interactions at the local level to study the phenomenon of tax evasion. This ABM is an innovative model which integrates endogenous characteristics of heterogeneous...