Evolutionary model of an anonymous consumer durable market
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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Volume (Year): 390 (2011)
Issue (Month): 14 ()
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