Professor of Economics Chris Georges recently presented a paper and chaired a session at the 21st annual Workshop on the Economic Science with Heterogeneous Interacting Agents (WEHIA). The conference was held at Jaume I University in Castellón, Spain.
The paper, “Innovation and Consumption Inequality in an Agent-Based Macroeconomic Model,” used an agent-based macroeconomic model developed by Georges to illustrate how rising income inequality can have a magnified effect on consumption inequality through its effect on product innovation.
A related paper, “Product Innovation and Macroeconomic Dynamics,” is forthcoming in a Springer volume titled Complex Systems Modeling and Simulation in Economics and Finance.
