An opinion dynamics model for the diffusion of innovations
AbstractWe study the dynamics of the adoption of new products by agents with continuous opinions and discrete actions (CODA). The model is such that the refusal in adopting a new idea or product is increasingly weighted by neighbor agents as evidence against the product. Under these rules, we study the distribution of adoption times and the final proportion of adopters in the population. We compare the cases where initial adopters are clustered to the case where they are randomly scattered around the social network and investigate small world effects on the final proportion of adopters. The model predicts a fat tailed distribution for late adopters which is verified by empirical data.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Physica A: Statistical Mechanics and its Applications.
Volume (Year): 388 (2009)
Issue (Month): 15 ()
Contact details of provider:
Web page: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/
Opinion dynamics; Innovation diffusion; Marketing; Sociophysics;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Quentin Michard & Jean-Philippe Bouchaud, 2005. "Theory of collective opinion shifts: from smooth trends to abrupt swings," Science & Finance (CFM) working paper archive 500060, Science & Finance, Capital Fund Management.
- Galam, Serge & Vignes, Annick, 2005. "Fashion, novelty and optimality: an application from Physics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 351(2), pages 605-619.
- Q. Michard & J.-P. Bouchaud, 2005. "Theory of collective opinion shifts: from smooth trends to abrupt swings," The European Physical Journal B - Condensed Matter and Complex Systems, Springer, vol. 47(1), pages 151-159, 09.
- Poulsen, Peter Bo & Adamsen, Sven & Vondeling, Hindrik & Jorgensen, Torben, 1998. "Diffusion of laparoscopic technologies in Denmark," Health Policy, Elsevier, vol. 45(2), pages 149-167, August.
- Rainer Hegselmann & Ulrich Krause, 2002. "Opinion Dynamics and Bounded Confidence Models, Analysis and Simulation," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 5(3), pages 2.
- Frank M. Bass, 1969. "A New Product Growth for Model Consumer Durables," Management Science, INFORMS, vol. 15(5), pages 215-227, January.
- Galam, Serge, 2011. "Collective beliefs versus individual inflexibility: The unavoidable biases of a public debate," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 390(17), pages 3036-3054.
- Si, Xia-Meng & Liu, Yun & Xiong, Fei & Zhang, Yan-Chao & Ding, Fei & Cheng, Hui, 2010. "Effects of selective attention on continuous opinions and discrete decisions," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(18), pages 3711-3719.
- Biondi, Yuri & Giannoccolo, Pierpaolo & Galam, Serge, 2012. "Formation of share market prices under heterogeneous beliefs and common knowledge," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 391(22), pages 5532-5545.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wendy Shamier).
If references are entirely missing, you can add them using this form.