Conformism, distinction and heterogeneity in an agent-based model of fads

Leonardo Bargigli and Filippo Pietrini ()
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Filippo Pietrini: University of Pisa

Journal of Economic Interaction and Coordination, 2024, vol. 19, issue 4, No 9, 807-829

Abstract: Abstract We examine the dependence of the cyclical fluctuations of demand on specific behavioral attitudes of heterogeneous agents. Starting from a modified version of the model of Tassier (Complexity 9(5):51-61, 2004), we use simulations to explore consumption dynamics and market shares when agents are inclined both to conformism and distinction, two necessary conditions for fashion in Simmel (Am j Sociol 62(6): 541–558, 1957). Our results challenge the view stating that conspicuous consumption is typical only of a wealthy class and of some positional goods, since we make no assumptions about features of the goods or income distribution.

Keywords: Goods cycles; Agent-based model; Sociology of consumption (search for similar items in EconPapers)
JEL-codes: D91 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s11403-024-00419-x

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