An Agent-Based Model of Heterogeneous Demand

The academic book "An Agent-Based Model of Heterogeneous Demand" by Matthias Müller offers an in-depth analysis of the role of the demand side in the innovation research process. By employing a complex agent-based simulation model, the author examines the diverse interactions between consumers and producers. Instead of simplifying the demand side, important aspects such as heterogeneity and the bounded rationality of economic agents embedded in networks are taken into account. The findings of the book provide a new perspective on the innovation process and demonstrate that the demand side, as well as consumers, are crucial drivers of innovation. These insights are of great significance for future research approaches to obtain a comprehensive understanding of the innovation phenomenon.