{"title":"Agent models of customer journeys on retail high streets.","authors":"Paul M Torrens","doi":"10.1007/s11403-022-00350-z","DOIUrl":"10.1007/s11403-022-00350-z","url":null,"abstract":"<p><p>In this review paper, we aim to make the case that a concept from retail analytics and marketing-the <i>customer journey</i>-can provide promising new frameworks and support for agent-based modeling, with a broad range of potential applications to high-resolution and high-fidelity simulation of dynamic phenomena on urban high streets. Although not the central focus of the review, we consider agent-based modeling of retail high streets against a backdrop of broader debate about downtown vitality and revitalization, amid a climate of economic challenges for brick-and-mortar retail. In particular, we consider how agent-based modeling, supported by insights from consideration of indoor shopping, can provide planning and decision support in outdoor high street settings. Our review considers abstractions of customers through conceptual modeling and customer typology, as well as abstractions of retailing as stationary and mobile. We examine high-level agency of shop choice and selection, as well as low-level agency centered on perception and cognition. Customer journeys are most often trips through geography; we therefore review path-planning, generation of foot traffic, wayfinding, steering, and locomotion. On busy high streets, journeys also manifest within crowd motifs; we thus review proximity, group dynamics, and sociality. Many customer journeys along retail high streets are dynamic, and customers will shift their journeys as they come into contact with experiences and service offerings. To address this, we specifically consider treatment of time and timing in agent-based models. We also examine sites for customer journeys, looking in particular at how agent-based models can provide support for the analysis of atmospherics, artifacts, and location-based services. Finally, we examine staff-side agency, considering store staff as potential agents outdoors; and we look at work to build agent-based models of fraud from customer journey analysis.</p>","PeriodicalId":45479,"journal":{"name":"Journal of Economic Interaction and Coordination","volume":"18 1","pages":"87-128"},"PeriodicalIF":0.8,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9080964/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"10485439","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Gradual financial integration and macroeconomic fluctuations in emerging market economies: evidence from China.","authors":"Yong Ma, Yiqing Jiang","doi":"10.1007/s11403-022-00368-3","DOIUrl":"https://doi.org/10.1007/s11403-022-00368-3","url":null,"abstract":"<p><p>This paper extends the conventional DSGE literature by developing a New Keynesian DSGE model featuring imperfect financial markets with various friction costs, which allows for the study of macroeconomic dynamics under different levels of financial integration. We conduct Bayesian estimation and draw implications on the macroeconomic effects of gradual financial integration using the Chinese economy as an example. We find that macroeconomic fluctuations vary with different levels of financial integration and the specific relationship depends on the nature of exogenous shocks. Variance decomposition analysis shows that as financial integration increases, the contribution of foreign exchange shocks declines while that of domestic shocks increases. We also find that there is a notable enhancement of welfare associated with improvement in financial integration, and the effectiveness of monetary policy in emerging market economies would be weakened as financial integration increases.</p>","PeriodicalId":45479,"journal":{"name":"Journal of Economic Interaction and Coordination","volume":"18 2","pages":"275-310"},"PeriodicalIF":1.1,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9424843/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"10874168","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Alessandro Basurto, Herbert Dawid, Philipp Harting, Jasper Hepp, Dirk Kohlweyer
{"title":"How to design virus containment policies? A joint analysis of economic and epidemic dynamics under the COVID-19 pandemic.","authors":"Alessandro Basurto, Herbert Dawid, Philipp Harting, Jasper Hepp, Dirk Kohlweyer","doi":"10.1007/s11403-022-00369-2","DOIUrl":"https://doi.org/10.1007/s11403-022-00369-2","url":null,"abstract":"<p><p>We analyze the impact of different designs of COVID-19-related lockdown policies on economic loss and mortality using a micro-level simulation model, which combines a multi-sectoral closed economy with an epidemic transmission model. In particular, the model captures explicitly the (stochastic) effect of interactions between heterogeneous agents during different economic activities on virus transmissions. The empirical validity of the model is established using data on economic and pandemic dynamics in Germany in the first 6 months after the COVID-19 outbreak. We show that a policy-inducing switch between a strict lockdown and a full opening-up of economic activity based on a high incidence threshold is strictly dominated by alternative policies, which are based on a low incidence threshold combined with a light lockdown with weak restrictions of economic activity or even a continuous weak lockdown. Furthermore, also the ex ante variance of the economic loss suffered during the pandemic is substantially lower under these policies. Keeping the other policy parameters fixed, a variation of the consumption restrictions during the lockdown induces a trade-off between GDP loss and mortality. Furthermore, we study the robustness of these findings with respect to alternative pandemic scenarios and examine the optimal timing of lifting containment measures in light of a vaccination rollout in the population.</p>","PeriodicalId":45479,"journal":{"name":"Journal of Economic Interaction and Coordination","volume":"18 2","pages":"311-370"},"PeriodicalIF":1.1,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9614772/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"10866437","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Introduction to the special issue on agent-based models in urban economics","authors":"Jason Barr, Jiaqi Ge","doi":"10.1007/s11403-022-00375-4","DOIUrl":"https://doi.org/10.1007/s11403-022-00375-4","url":null,"abstract":"","PeriodicalId":45479,"journal":{"name":"Journal of Economic Interaction and Coordination","volume":"18 1","pages":"1-4"},"PeriodicalIF":1.1,"publicationDate":"2022-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45632079","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Interaction between price and expectations in the jar-guessing experimental market","authors":"Toshiaki Akinaga, Takanori Kudo, Kenju Akai","doi":"10.1007/s11403-022-00374-5","DOIUrl":"https://doi.org/10.1007/s11403-022-00374-5","url":null,"abstract":"","PeriodicalId":45479,"journal":{"name":"Journal of Economic Interaction and Coordination","volume":"18 1","pages":"491 - 532"},"PeriodicalIF":1.1,"publicationDate":"2022-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45968151","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
C. Kulp, Michael J. Kurtz, Charles Hunt, Matthew Velardi
{"title":"The distribution of wealth: an agent-based approach to examine the effect of estate taxation, skill inheritance, and the Carnegie Effect","authors":"C. Kulp, Michael J. Kurtz, Charles Hunt, Matthew Velardi","doi":"10.1007/s11403-022-00372-7","DOIUrl":"https://doi.org/10.1007/s11403-022-00372-7","url":null,"abstract":"","PeriodicalId":45479,"journal":{"name":"Journal of Economic Interaction and Coordination","volume":"18 1","pages":"397-415"},"PeriodicalIF":1.1,"publicationDate":"2022-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41876532","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Group contest in a coopetitive setup: experimental evidence","authors":"H. J. Kiss, Alfonso Rosa-García, Vita Zhukova","doi":"10.1007/s11403-022-00373-6","DOIUrl":"https://doi.org/10.1007/s11403-022-00373-6","url":null,"abstract":"","PeriodicalId":45479,"journal":{"name":"Journal of Economic Interaction and Coordination","volume":"18 1","pages":"463 - 490"},"PeriodicalIF":1.1,"publicationDate":"2022-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41319561","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Dissimilarity effects on house prices: what is the value of similar neighbours?","authors":"S. Bonakdar, Michael W. M. Roos","doi":"10.1007/s11403-022-00370-9","DOIUrl":"https://doi.org/10.1007/s11403-022-00370-9","url":null,"abstract":"","PeriodicalId":45479,"journal":{"name":"Journal of Economic Interaction and Coordination","volume":"18 1","pages":"59-86"},"PeriodicalIF":1.1,"publicationDate":"2022-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49509203","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"“Less is more” or “more is better”? The effect of asymmetric information distribution on market efficiency and wealth inequality","authors":"Rocco Caferra, Simone Nuzzo, A. Morone","doi":"10.1007/s11403-022-00365-6","DOIUrl":"https://doi.org/10.1007/s11403-022-00365-6","url":null,"abstract":"","PeriodicalId":45479,"journal":{"name":"Journal of Economic Interaction and Coordination","volume":"18 1","pages":"233-250"},"PeriodicalIF":1.1,"publicationDate":"2022-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43631261","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Agents interaction and price dynamics: evidence from the laboratory","authors":"Rocco Caferra, G. Tedeschi, A. Morone","doi":"10.1007/s11403-022-00366-5","DOIUrl":"https://doi.org/10.1007/s11403-022-00366-5","url":null,"abstract":"","PeriodicalId":45479,"journal":{"name":"Journal of Economic Interaction and Coordination","volume":"18 1","pages":"251-274"},"PeriodicalIF":1.1,"publicationDate":"2022-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41625843","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}