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

Author

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  • Leonardo Bargigli

    (University of Florence)

  • Filippo Pietrini

    (University of Pisa)

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.

Suggested Citation

  • Leonardo Bargigli & Filippo Pietrini, 2024. "Conformism, distinction and heterogeneity in an agent-based model of fads," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 19(4), pages 807-829, October.
    • Handle: RePEc:spr:jeicoo:v:19:y:2024:i:4:d:10.1007_s11403-024-00419-x
    DOI: 10.1007/s11403-024-00419-x
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    More about this item

    Keywords

    Goods cycles; Agent-based model; Sociology of consumption;
    All these keywords.

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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