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We analyze a coupled anonymized dataset collecting the mobile phone communication and bank transactions history of a large number of individuals. After mapping the social structure and introducing indicators of socioeconomic status,…
This paper adapts ideas from social identity theory to set out a new framework for modelling conspicuous consumption. Agents derive utility from their consumption of a status good and from belonging to an identity group with high status…
We study consumption behaviour in systems with heterogeneous interacting agents. Two different models are introduced, respectively with long and short range interactions among agents. At any time step an agent decides whether or not to…
Regulators and academics are increasingly interested in the causal effect that algorithmic actions of a digital platform have on consumption. We introduce a general causal inference problem we call the steerability of consumption that…
The nexus between debt and inequality has attracted considerable scholarly attention in the wake of the global financial crisis. One prominent candidate to explain the striking co-evolution of income inequality and private debt in this…
In market modeling, one often treats buyers as a homogeneous group. In this paper we consider buyers with heterogeneous preferences and products available in many variants. Such a framework allows us to successfully model various market…
Although single empirical studies provide important insights into who adopts a specific LCT for what reason, fundamental questions concerning the relations between decision subject (= who decides), decision object (= what is decided upon)…
We analyse a coupled dataset collecting the mobile phone communications and bank transactions history of a large number of individuals living in a Latin American country. After mapping the social structure and introducing indicators of…
We study the consumption behaviour of an asymmetric network of heterogeneous agents in the framework of discrete choice models with stochastic decision rules. We assume that the interactions among agents are uniquely specified by their…
Adoption processes in socio-technological systems have been widely studied both empirically and theoretically. The way in which social norms, behaviors, and even items such as books, music, or other commercial or technological product…
Consumer choice modeling takes center stage as we delve into understanding how personal preferences of decision makers (customers) for products influence demand at the level of the individual. The contemporary choice theory is built upon…
A consumer Behaviour model is considered in the context of a network of interacting individuals in an energy market. We propose and analyse a simple dynamical model of an ensemble of coupled active elements mimicking consumers' Behaviour,…
Social interactions and personal tastes shape our consumption behavior of cultural products. In this study, we present a computational model of a cultural market and we aim to analyze the behavior of the consumer population as an emergent…
Understanding and modeling consumers' stylistic taste such as "sporty" is crucial for creating designs that truly connect with target audiences. However, capturing taste during the design process remains challenging because taste is…
Predicting future consumer behaviour is one of the most challenging problems for large scale retail firms. Accurate prediction of consumer purchase pattern enables better inventory planning and efficient personalized marketing strategies.…
In this paper, we tackle the problem of innovation spreading from a modeling point of view. We consider a networked system of individuals, with a competition between two groups. We show its relation to the innovation spreading issues. We…
Recent years have witnessed an increased focus on interpretability and the use of machine learning to inform policy analysis and decision making. This paper applies machine learning to examine travel behavior and, in particular, on modeling…
Status signaling drives human behavior and the allocation of scarce resources such as mating opportunities, yet the generative mechanisms governing how specific goods, signals, or behaviors acquire prestige remain a puzzle. Classical…
Modelling Consumer Indebtedness has proven to be a problem of complex nature. In this work we utilise Data Mining techniques and methods to explore the multifaceted aspect of Consumer Indebtedness by examining the contribution of…
Evidence is growing that in many markets consumers select not simply on the basis of the perceived attributes of products, but their preferences are modified by the behaviour of others. Economists have paid relatively little attention to…