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How effective is advertising in duopoly markets?

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Author Info
Katarzyna Sznajd-Weron (University of Wroclaw)
Rafal Weron (Hugo Steinhaus Center, Wroclaw University of Technology)

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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, ie. extreme and fast changes in market share.

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File URL: http://129.3.20.41/eps/pe/papers/0306/0306005.pdf
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Publisher Info
Paper provided by EconWPA in its series Public Economics with number 0306005.

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Length: 7 pages
Date of creation: 20 Jun 2003
Date of revision:
Handle: RePEc:wpa:wuwppe:0306005

Note: Type of Document - PDF; prepared on PC-TEX; pages: 7; figures: 6 included. Appeared in: Physica A 324 (2003) 437-444.
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Web page: http://129.3.20.41

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Related research
Keywords: advertising; oligopoly; duopoly; Ising model; agent-based model;

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Find related papers by JEL classification:
D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
M37 - Business Administration and Business Economics; Marketing; Accounting - - Marketing and Advertising - - - Advertising
D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Statistical Simulation Methods

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  1. Situngkir, Hokky, 2006. "Advertising in Duopoly Market," MPRA Paper 885, University Library of Munich, Germany. [Downloadable!]
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