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Optimizing systematic technology adoption with heterogeneous agents

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  • Chen, Huayi
  • Ma, Tieju

Abstract

The traditional operational optimization models of systematic technology adoption commonly assume the existence of a global social planner and ignore the existence of heterogeneous decision makers who interact with each other. This paper develops a stylized (or conceptual) optimization model of systematic technology adoption with heterogeneous agents (i.e., decision makers) and uncertain technological learning. Each agent attempts to identify optimal solutions to adopting technologies for a portion of the entire system. The agents in the model have different foresight and different risk attitudes and interact with one another in terms of technological spillover.

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  • Chen, Huayi & Ma, Tieju, 2017. "Optimizing systematic technology adoption with heterogeneous agents," European Journal of Operational Research, Elsevier, vol. 257(1), pages 287-296.
    • Handle: RePEc:eee:ejores:v:257:y:2017:i:1:p:287-296
    DOI: 10.1016/j.ejor.2016.07.007
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    Cited by:

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    2. Junjun Zheng & Mingmiao Yang & Gang Ma & Qian Xu & Yujie He, 2020. "Multi-Agents-Based Modeling and Simulation for Carbon Permits Trading in China: A Regional Development Perspective," IJERPH, MDPI, vol. 17(1), pages 1-20, January.
    3. Chenhao Fang & Tieju Ma, 2021. "Technology adoption with carbon emission trading mechanism: modeling with heterogeneous agents and uncertain carbon price," Annals of Operations Research, Springer, vol. 300(2), pages 577-600, May.
    4. Fang, Chenhao & Ma, Tieju, 2020. "Stylized agent-based modeling on linking emission trading systems and its implications for China's practice," Energy Economics, Elsevier, vol. 92(C).
    5. Chen, Huayi & Zhou, P., 2019. "Modeling systematic technology adoption: Can one calibrated representative agent represent heterogeneous agents?," Omega, Elsevier, vol. 89(C), pages 257-270.
    6. Parikh, Kirit S. & Parikh, Jyoti K. & Ghosh, Probal P., 2018. "Can India grow and live within a 1.5 degree CO2 emissions budget?," Energy Policy, Elsevier, vol. 120(C), pages 24-37.

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