Evolutionary model of an anonymous consumer durable market
AbstractAn 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 InfoArticle provided by Elsevier in its journal Physica A: Statistical Mechanics and its Applications.
Volume (Year): 390 (2011)
Issue (Month): 14 ()
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Web page: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/
Evolutionary economics; Economic growth; Product diffusion; Bass diffusion; Gompertz diffusion; Product life cycle; Price distribution; Laplace distribution; Replicator equation; Firm growth; Growth rate distribution;
Other versions of this item:
- Joachim Kaldasch, 2013. "Evolutionary Model of a Anonymous Consumer Durable Market," Papers 1306.3395, arXiv.org.
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.:
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