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Several taxonomies for empirical validation have been published. Our model integrates different methods to calibrate an innovation diffusion model, ranging from simple randomized input validation to complex calibration with the use of microdata.
Objective is to simulate policy interventions in an integrated demand-supply model. The underlying demand function links both sides. Diffusion proceeds if interactions distribute awareness (Epidemic effect) and rivalry reduces the market price (Probit effect). Endogeneity is given due to the fact that consumer awareness as well as their willingness-to-pay drives supply-side rivalry. Firm´s entry and exit decisions as well as quantity and price settings are driven by Cournot competition.
An Agent-based model simulates consumer demand for Smart Metering tariffs. It utilizes the Bass Diffusion Model and Rogers´s adopter categories. Integration of empirical census microdata enables a validated socio-economic background for each consumer.