An agent based model of fads

Leonardo Bargigli and Filippo Pietrini

Working Papers - Economics from Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa

Abstract: We examine the dependence of the cyclical fluctuations of demand on specific behavioral attitudes of heterogeneous agents. Extending the model of Tassier (2004), we use simulations to investigate consumption dynamics when agents are inclined both to conformism and distinction, and they use goods as elements of a communication system. Our results challenge the view stating that conspicuous consumption is typical only of a wealthy class and of some positional goods, since in our model there are 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)
Pages: 24 pages
Date: 2023
New Economics Papers: this item is included in nep-cmp and nep-hme
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Persistent link: https://EconPapers.repec.org/RePEc:frz:wpaper:wp2023_01.rdf

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