An ABM of Heterogeneous Consumers and Demand

Abstract

After the discussion of the ABM approach in the previous chapter, the following chapter describes the agent-based simulation model used as a baseline model. This baseline model shows the implications of introducing heterogeneous consumers with heterogeneous demand into the analysis of innovation. Hereby, we aim at creating a computational framework which can display both, the heterogeneity of the demand as well as the supply side and their effect on the innovation process.