Towards an ABM-Based Framework for Investigating Consumer Behaviour in the Insurance Industry

This paper presents a framework that builds upon agent-based modelling for investigating the behaviour of consumers in the insurance industry. Consumers are modelled as agents and clustered in groups reflecting their income levels. Agents that model consumers are characterised by their socio-demographic features and interact with other insurance consumer-agents by means of local and global social networks. Furthermore, the environment in which they evolve models the impact of external factors such as mortality, disease and other accident rates as well as insurance culture. This makes that consumer-agents accumulate experience, improve their understanding and knowledge of financial products, and thus develop their perception of need for security and consider the usefulness of insurance services. In turn, the framework enables to model the construction of the customers’ insurance product purchase decision.p

Diffusion of shared goods in consumer coalitions. An agent-based model

This paper focuses on the process of coalition formation conditioning the common decision to adopt a shared good, which cannot be afforded by an average single consumer and whose use cannot be exhausted by any single consumer. An agent based model is developed to study the interplay between these two processes: coalition formation and diffusion of shared goods. Coalition formation is modelled in an evolutionary game theoretic setting, while adoption uses elements from both the Bass and the threshold models. Coalitions formation sets the conditions for adoption, while diffusion influences the consequent formation of coalitions. Results show that both coalitions and diffusion are subject to network effects and have an impact on the information flow though the population of consumers. Large coalitions are preferred over small ones since individual cost is lower, although it increases if higher quantities are purchased collectively. The paper concludes by connecting the model conceptualisation to the on-going discussion of diffusion of sustainable goods, discussing related policy implications

A Multi-Agent Simulation of Retail Management Practices

We apply Agent-Based Modeling and Simulation (ABMS) to investigate a set of problems in a retail context. Specifically, we are working to understand the relationship between human resource management practices and retail productivity. Despite the fact we are working within a relatively novel and complex domain, it is clear that intelligent agents do offer potential for developing organizational capabilities in the future. Our multi-disciplinary research team has worked with a UK department store to collect data and capture perceptions about operations from actors within departments. Based on this case study work, we have built a simulator that we present in this paper. We then use the simulator to gather empirical evidence regarding two specific management practices: empowerment and employee development

Modelling the Consumption Behaviour of Heterogeneous Consumers: A Duty-Free Shop Case Simulation Analysis

Duty-free shops, which have emerged in major airports, first-tier cities, free trade zones and other places, have become ideal places for not only facilitating people to buy goods but also promoting the development of the local economy, which makes the study of the heterogeneous consumer purchase behavior in duty-free stores of great importance and great practical significance. Based on this, the agent model is used to study the purchase behavior of heterogeneous consumers in duty-free stores, the structure of the agent model is proposed, the consumer submodel and situation submodel are designed, and a service recommendation is made. On this basis, the consumer behavior is simulated and analyzed both with and without considering situational factors. The following conclusions are drawn: (1) The display, the month, holidays, and other factors have an important impact on the heterogeneous consumers of duty-free stores and affect consumers\u27 consumption behavior. (2) Salespeople\u27s recommendation rules and consumers\u27 purchase preferences affect consumers\u27 purchase behavior, which has an important impact on the types and quantity of goods consumers buy

Progress in information technology and tourism management: 20 years on and 10 years after the Internet—The state of eTourism research

This paper reviews the published articles on eTourism in the past 20 years. Using a wide variety of sources, mainly in the tourism literature, this paper comprehensively reviews and analyzes prior studies in the context of Internet applications to Tourism. The paper also projects future developments in eTourism and demonstrates critical changes that will influence the tourism industry structure. A major contribution of this paper is its overview of the research and development efforts that have been endeavoured in the field, and the challenges that tourism researchers are, and will be, facing

Scenario analysis report with policy recommendations: An assessment of sustainability, resilience, efficiency and fairness and effective chain relationships in VALUMICS case studies : Deliverable 8.4

This is an open access article distributed under the Creative Commons Attribution License, to view a copy of the license, see: https://creativecommons.org/licenses/by/4.0/. The final version of this report is available at https://doi.org/10.5281/zenodo.6534011The functioning of food value chains entails a complex organisation from farm to fork which is characterised by various governance forms and externalities which have shaped the overall food system. VALUMICS food value chain case studies: wheat to bread, dairy cows to milk, beef cattle to steak, farmed salmon to fillets and tomato to processed tomato were selected to enable explorative and empirical analysis to better understand the functioning of the food system and, to identify the main challenges that need to be addressed to improve sustainability, integrity, resilience, and fairness of European food chains. The VALUMICS system analysis was executed through four operational phases starting with Groundwork & analysis including mapping specific attributes and impacts of food value chains and their externalities. This was followed by Case study baseline analysis, which provided input to the third phase on Modelling and exploration of future scenarios and finally Policy and synthesis of the overall work. This report is an overall synthesis of the VALUMICS results as follows: • Key findings from the VALUMICS project on the functioning of European food value chains and their impacts on more sustainable, resilient, fairer, and transparent food system are summarised through a compilation of 25 Research Findings and Policy Briefs. • By highlighting the major contributions from the research activities throughout the four phases of the VALUMICS project, this report delivers an assessment of various factors influencing sustainability, resilience, efficiency and fairness and effective chain relationships of different food value chains, and their determinants. • The synthesis of the outcome allows the identification of opportunities and challenges characterising the functioning of food supply chains, and thus, the prospects and potentials for strengthening the EU food sector

The role of the license plate lottery policy in the adoption of Electric Vehicles: A case study of Beijing

Policy is an influential factor to the purchase and usage of Electric Vehicles (EVs). This paper is focused on the license plate lottery policy, a typical vehicle purchase restriction in Beijing, China. An agent-based spatial integrated urban model, SelfSim-EV, is employed to investigate how the policy may influence the uptake of EVs over time at the individual level. Two types of “what-if” scenario were set up to explore how the methods to allocate the vehicle purchase permits and the number of permits might influence the EV market expansion from 2016 to 2020. The results suggested that 1) both the allocation methods and the number of purchase permits could heavily influence the uptake of EVs and further its impacts on vehicular emissions, energy consumption and urban infrastructures; 2) compared to the baseline, both scenarios got significantly different spatial distributions of vehicle owners, transport facilities, vehicular emissions and charging demand at the multiple resolutions; 3) SelfSim-EV was found as a useful tool to quantify the nonlinear relationships between the increase of EV purchasers and the demand for transport facilities and electricity, and also to capture some unexpected results coming out from the interactions in the complex dynamic urban system