An agent based multi-optional model for the diffusion of innovations

DOI10.1016/J.PHYSA.2013.09.046MaRDI QIDQ1782517zbMATH OpenOpenAlexWikidataFDO

Authors Carlos Laciana, Nicolás Oteiza-Aguirre

Publication date 20 September 2018

Published in Physica A (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/1306.1110

zbMATH Keywords

innovation diffusionPotts modelheterogeneous populationdecision under uncertaintyproduct competition

Mathematics Subject Classification ID

Models of societies, social and urban evolution (91D10) Applications of statistical and quantum mechanics to economics (econophysics) (91B80)

Abstract: We propose a model for the diffusion of several products competing in a common market based on the generalization of the Ising model of statiscal mechanics (Potts model). Using an agent based implementation, we analyze two problems: (i) a three options case, i.e. to adopt a product A, a product B, or non-adoption and (ii) a four options case, i.e. the adoption of product A, product B, both, or none. In the first case we analyze a launching strategy for one of the two products, which delays its launching with the objective of competing with improvements. Market shares reached by each product are then estimated at market saturation. Finally, simulations are carried out with varying degrees of social network topology, uncertainty, and population homogeneity.

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Cited in

(15)

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• scientific article; zbMATH DE number 5035874 (Why is no real title available?)
• Can Trend Followers Survive in the Long-Run% Insights from Agent-Based Modeling
• Diffusion of two brands in competition: cross-brand effect
• Adoption as a social marker: innovation diffusion with outgroup aversion
• Dynamics of innovation diffusion with two step decision process
• Aggregate diffusion dynamics in agent-based models with a spatial structure
• USING ASSOCIATIVE NETWORKS TO REPRESENT ADOPTERS' BELIEFS IN A MULTIAGENT MODEL OF INNOVATION DIFFUSION
• Adoption of new products with global and local social influence in a 2D characteristics space
• Modeling ITNs usage: optimal promotion programs versus pure voluntary adoptions
• Cellular automata based simulation of new product market diffusion
• Overcoming choice inertia through social interaction -- an agent-based study of mobile subscription decision

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Uses Software

• AnyLogic

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