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Evolutionary model of an anonymous consumer durable market

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  • Kaldasch, Joachim

Abstract

An analytic model is presented that considers the evolution of a market of durable goods. The model suggests that after introduction goods spread always according to a Bass diffusion. However, this phase will be followed by a diffusion process for durable consumer goods governed by a variation-selection-reproduction mechanism and the growth dynamics can be described by a replicator equation.

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Bibliographic Info

Article provided by Elsevier in its journal Physica A: Statistical Mechanics and its Applications.

Volume (Year): 390 (2011)
Issue (Month): 14 ()
Pages: 2692-2715

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Handle: RePEc:eee:phsmap:v:390:y:2011:i:14:p:2692-2715

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Web page: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/

Related research

Keywords: Evolutionary economics; Economic growth; Product diffusion; Bass diffusion; Gompertz diffusion; Product life cycle; Price distribution; Laplace distribution; Replicator equation; Firm growth; Growth rate distribution;

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References

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  4. Kaushik Matia & Dongfeng Fu & Sergey V. Buldyrev & Fabio Pammolli & Massimo Riccaboni & H. Eugene Stanley, 2005. "Statistical Properties of Business Firms Structure and Growth," Papers physics/0502081, arXiv.org.
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  6. De Fabritiis, G. & Pammolli, F. & Riccaboni, M., 2003. "On size and growth of business firms," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 324(1), pages 38-44.
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  8. Steffens, Paul R, 2001. "An Aggregate Sales Model for Consumer Durables Incorporating a Time-Varying Mean Replacement Age," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 20(1), pages 63-77, January.
  9. Sergey V. Buldyrev & Jakub Growiec & Fabio Pammolli & Massimo Riccaboni & H. Eugene Stanley, 2007. "The Growth of Business Firms: Facts and Theory," Journal of the European Economic Association, MIT Press, vol. 5(2-3), pages 574-584, 04-05.
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  11. Frank M. Bass & Trichy V. Krishnan & Dipak C. Jain, 1994. "Why the Bass Model Fits without Decision Variables," Marketing Science, INFORMS, vol. 13(3), pages 203-223.
  12. Growiec, Jakub & Pammolli, Fabio & Riccaboni, Massimo & Stanley, H. Eugene, 2008. "On the size distribution of business firms," Economics Letters, Elsevier, vol. 98(2), pages 207-212, February.
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  15. Banerjee, Anand & Yakovenko, Victor M. & Di Matteo, T., 2006. "A study of the personal income distribution in Australia," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 370(1), pages 54-59.
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Citations

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Cited by:
  1. Kaldasch, Joachim, 2014. "Evolutionary Model of Moore’s Law," MPRA Paper 54397, University Library of Munich, Germany.
  2. Kaldasch, Joachim, 2011. "Evolutionary Model of Non-Durable Markets," MPRA Paper 33743, University Library of Munich, Germany.
  3. Kaldasch, Joachim, 2011. "The product life cycle of durable goods," MPRA Paper 33174, University Library of Munich, Germany.
  4. Kaldasch, Joachim, 2012. "Evolutionary model of the personal income distribution," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 391(22), pages 5628-5642.
  5. Kaldasch, Joachim, 2011. "The experience curve and the market size of competitive consumer durable markets," MPRA Paper 33370, University Library of Munich, Germany.
  6. Joachim Kaldasch, 2012. "Evolutionary Model of the Growth and Size of Firms," Papers 1208.1123, arXiv.org.
  7. Joachim Kaldasch, 2012. "Evolutionäre Diffusion und der Produktlebenszyklus von Gebrauchsgütern," EconStor Preprints 59748, ZBW - German National Library of Economics.

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