Journal on Policy and Complex Systems
Table 1 . Outline of Agents and Their Behavioral Rules
Agent Type Output to be supplied
Consumer
Enterprise
Producer
Worker
Executive
Bank Bank
Public workers
The labor force for firms
Management for firms
The labor force for government
Retailer Consumption goods
Raw material maker
Equipment maker
Government Government
Material goods
Equipment -
The fund for producers ’ investment
Redistribution of wealth
Product type to purchase
Consumer goods
-
Outline of behavioral rules
Consumers work and obtain the wage from the producer , bank , or government , pay tax , and purchase consumer goods . A part of the income will be deposited in the bank account as per the Keynesian consumption function . Buying consumer goods is performed according to the utility that each consumer uniquely holds . Consumers transact in the stock market , aiming to increase their assets when the model includes the stock market .
Enterprises employ consumers , get profits from operating activities , and pay wages and tax .
Producers supply and sell products in the goods market .
Consumer goods , Materials ,
Equipment Retailers and raw material makers decide both the quantity and price of each class of product to be produced based on the
Consumer goods , number of goods in stock . If necessary , they invest in equipment
Equipment based on the demand to expand production capacity .
Consumer goods
The bank keeps the surplus money of other agents in their respective bank accounts and lends money to firms for investment .
The government collects tax from other agents , pays wages to public workers and spends the remaining money on public expenditure .