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Displaying 10 of 44 results demand clear
This is a simulation of an insurance market where the premium moves according to the balance between supply and demand. In this model, insurers set their supply with the aim of maximising their expected utility gain while operating under imperfect information about both customer demand and underlying risk distributions.
There are seven types of insurer strategies. One type follows a rational strategy within the bounds of imperfect information. The other six types also seek to maximise their utility gain, but base their market expectations on a chartist strategy. Under this strategy, market premium is extrapolated from trends based on past insurance prices. This is subdivided according to whether the insurer is trend following or a contrarian (counter-trend), and further depending on whether the trend is estimated from short-term, medium-term, or long-term data.
Customers are modelled as a whole and allocated between insurers according to available supply. Customer demand is calculated according to a logit choice model based on the expected utility gain of purchasing insurance for an average customer versus the expected utility gain of non-purchase.
The model simulates the diffusion of four low-carbon energy technologies among households: photovoltaic (PV) solar panels, electric vehicles (EVs), heat pumps, and home batteries. We model household decision making as the decision marking of one person, the agent. The agent decides whether to adopt these technologies. Hereby, the model can be used to study co-adoption behaviour, thereby going beyond traditional diffusion models that focus on the adop-tion of single technologies. The combination of these technologies is of particular interest be-cause (1) using the energy generated by PV solar panels for EVs and heat pumps can reduce emissions associated with transport and heating, respectively, and (2) EVs, heat pumps, and home batteries can help to integrate PV solar panels in local electricity grids by offering flexible demand (EVs and heat pumps) and energy storage (home batteries and EVs), thereby reducing grid impacts and associated upgrading costs.
The purpose of the model is to represent realistic adoption and co-adoption behaviour. This is achieved by grounding the decision model on the risks-as-feelings model (Loewenstein et al., 2001), theory from environmental and social psychology, and empirically informing agent be-haviour by survey-data among 1469 people in the Swiss region Romandie.
The model can be used to construct scenarios for the diffusion of the four low-carbon energy technologies depending on different contexts, and as a virtual experimentation environment for ex ante evaluation of policy interventions to stimulate adoption and co-adoption.
This model is linked to the paper “The Epistemic Role of Diversity in Juries: An Agent-Based Model”. There are many version of this model, but the current version focuses on the role of diversity in whether juries reach correct verdicts. Using this agent-based model, we argue that diversity can play at least four importantly different roles in affecting jury verdicts. (1) Where different subgroups have access to different information, equal representation can strengthen epistemic jury success. (2) If one subgroup has access to particularly strong evidence, epistemic success may demand participation by that group. (3) Diversity can also reduce the redundancy of the information on which a jury focuses, which can have a positive impact. (4) Finally, and most surprisingly, we show that limiting communication between diverse groups in juries can favor epistemic success as well.
The Modern Wage Dynamics Model is a generative model of coupled economic production and allocation systems. Each simulation describes a series of interactions between a single aggregate firm and a set of households through both labour and goods markets. The firm produces a representative consumption good using labour provided by the households, who in turn purchase these goods as desired using wages earned, thus the coupling.
Each model iteration the firm decides wage, price and labour hours requested. Given price and wage, households decide hours worked based on their utility function for leisure and consumption. A labour market construct chooses the minimum of hours required and aggregate hours supplied. The firm then uses these inputs to produce goods. Given the hours actually worked, the households decide actual consumption and a market chooses the minimum of goods supplied and aggregate demand. The firm uses information gained through observing market transactions about consumption demand to refine their conceptions of the population’s demand.
The purpose of this model is to explore the general behaviour of an economy with coupled production and allocation systems, as well as to explore the effects of various policies on wage and production, such as minimum wage, tax credits, unemployment benefits, and universal income.
The Mobility Transition Model (MoTMo) is a large scale agent-based model to simulate the private mobility demand in Germany until 2035. Here, we publish a very much reduced version of this model (R-MoTMo) which is designed to demonstrate the basic modelling ideas; the aim is by abstracting from the (empirical, technological, geographical, etc.) details to examine the feed-backs of individual decisions on the socio-technical system.
The Price Evolution with Expectations model provides the opportunity to explore the question of non-equilibrium market dynamics, and how and under which conditions an economic system converges to the classically defined economic equilibrium. To accomplish this, we bring together two points of view of the economy; the classical perspective of general equilibrium theory and an evolutionary perspective, in which the current development of the economic system determines the possibilities for further evolution.
The Price Evolution with Expectations model consists of a representative firm producing no profit but producing a single good, which we call sugar, and a representative household which provides labour to the firm and purchases sugar.The model explores the evolutionary dynamics whereby the firm does not initially know the household demand but eventually this demand and thus the correct price for sugar given the household’s optimal labour.
The model can be run in one of two ways; the first does not include money and the second uses money such that the firm and/or the household have an endowment that can be spent or saved. In either case, the household has preferences for leisure and consumption and a demand function relating sugar and price, and the firm has a production function and learns the household demand over a set number of time steps using either an endogenous or exogenous learning algorithm. The resulting equilibria, or fixed points of the system, may or may not match the classical economic equilibrium.
Agriculture is the largest water-consuming sector worldwide, responsible for almost 70% of the world’s total freshwater consumption. Agricultural water reuse is one of the most sustainable and reliable methods to alleviate water shortages worldwide. However, the dynamics of agricultural water reuse adoption by farmers and its impacts on local water resources are still unknown to the scientific community, according to the literature. Therefore, the primary purpose of the WRAF model is to investigate the micro-level dynamics of agricultural water reuse adoption by farmers and its impacts on local water resources. The WRAF was developed using agent-based modeling as an exploratory tool for scenario analysis. The model was specifically designed for researchers and water resources decision-makers, especially those interested in natural resources management and water reuse.
WRAF simulates a virtual agricultural area in which several autonomous farms operate. It also simulates these farms’ water consumption dynamics. The developed model includes two types of agents: farmers and wastewater treatment plants. In general, farmer agents are the main water-consuming agents, and wastewater treatment plant agents are recycled water providers in the WRAF model. Dynamic simulation of agricultural water supply and demand in the area allows the user to observe the results of various irrigation water management scenarios, including recycled water. The models also enable the user to apply multiple climate change scenarios, including normal, moderate drought, severe drought, and wet weather conditions.
The Urban Traffic Simulator is an agent-based model developed in the Unity platform. The model allows the user to simulate several autonomous vehicles (AVs) and tune granular parameters such as vehicle downforce, adherence to speed limits, top speed in mph and mass. The model allows researchers to tune these parameters, run the simulator for a given period and export data from the model for analysis (an example is provided in Jupyter Notebook).
The data the model is currently able to output are the following:
ViSA simulates the decision behaviors of different stakeholders showing demands for ecosystem services (ESS) in agricultural landscape. The lack of sufficient supply of ESSs triggers stakeholders to apply different management options to increase their supply. However, while attempting to reduce the supply-demand gap, conflicts arise among stakeholders due to the tradeoff nature of some ESS. ViSA investigates conditions and scenarios that can minimize such supply-demand gap while reducing the risk of conflicts by suggesting different mixes of management options and decision rules.
With this model, we investigate resource extraction and labor conditions in the Global South as well as implications for climate change originating from industry emissions in the North. The model serves as a testbed for simulation experiments with evolutionary political economic policies addressing these issues. In the model, heterogeneous agents interact in a self-organizing and endogenously developing economy. The economy contains two distinct regions – an abstract Global South and Global North. There are three interlinked sectors, the consumption good–, capital good–, and resource production sector. Each region contains an independent consumption good sector, with domestic demand for final goods. They produce a fictitious consumption good basket, and sell it to the households in the respective region. The other sectors are only present in one region. The capital good sector is only found in the Global North, meaning capital goods (i.e. machines) are exclusively produced there, but are traded to the foreign as well as the domestic market as an intermediary. For the production of machines, the capital good firms need labor, machines themselves and resources. The resource production sector, on the other hand, is only located in the Global South. Mines extract resources and export them to the capital firms in the North. For the extraction of resources, the mines need labor and machines. In all three sectors, prices, wages, number of workers and physical capital of the firms develop independently throughout the simulation. To test policies, an international institution is introduced sanctioning the polluting extractivist sector in the Global South as well as the emitting industrial capital good producers in the North with the aim of subsidizing innovation reducing environmental and social impacts.
Displaying 10 of 44 results demand clear