How effective is advertising in duopoly markets?

DOI10.1016/S0378-4371(02)01904-0MaRDI QIDQ1874005zbMATH OpenOpenAlexFDO

Authors Yanyan Li

Publication date 21 May 2003

Published in Physica A (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/cond-mat/0211058

zbMATH Keywords

phase transitionsIsing spin modelcustomer-opinion spread

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) Lattice systems (Ising, dimer, Potts, etc.) and systems on graphs arising in equilibrium statistical mechanics (82B20)

Abstract: A simple Ising spin model which can describe the mechanism of advertising in a duopoly market is proposed. In contrast to other agent-based models, the influence does not flow inward from the surrounding neighbors to the center site, but spreads outward from the center to the neighbors. The model thus describes the spread of opinions among customers. It is shown via standard Monte Carlo simulations that very simple rules and inclusion of an external field -- an advertising campaign -- lead to phase transitions.

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Cites work

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Cited in

(18)

• Anticonformity or independence? -- Insights from statistical physics
• EFFECTS OF COMPLEX SYSTEM STRUCTURE AND EXTERNAL FIELD IN OPINION FORMATION
• Voter models and external influence
• Consensus formation on a simplicial complex of opinions
• Different phases in a supermarket chain network: an application of an Ising model on soap froth
• STRUCTURALLY DYNAMIC SPIN MARKET NETWORKS
• The drastic outcomes from voting alliances in three-party democratic voting (1990 \(\rightarrow\) 2013)
• A THREE-OPINION SZNAJD MODEL WITH LIMITED PERSUASION AND ITS APPLICATIONS
• OPINION EVOLUTION MODEL WITH THE STATE OF NEUTRALITY
• Determining the optimal duration of an advertising campaign using diffusion of information
• A dynamic evolution model of human opinion as affected by advertising
• THE KEY ROLE OF SHORTCUTS OF SMALL-WORLD NETWORK IN OPINION FORMATION
• Rewiring the network. What helps an innovation to diffuse?
• EFFECTS OF MASS MEDIA AND CULTURAL DRIFT IN A MODEL FOR SOCIAL INFLUENCE
• STOCHASTIC SZNAJD MODEL IN OPEN COMMUNITY
• SZNAJD OPINION DYNAMICS WITH GLOBAL AND LOCAL NEIGHBORHOOD
• RESPONSE FUNCTIONS TO CRITICAL SHOCKS IN SOCIAL SCIENCES: AN EMPIRICAL AND NUMERICAL STUDY
• Simulation of the advertising in duopoly markets based on cellular automata

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