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Model Of Influence: From Individual Decisions To Locked-In Markets

Author

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  • SEBASTIAN D. GUALA

    (Instituto de Ciencias, Universidad Nacional de General Sarmiento, Gutierrez 1150, B1613GSX, Buenos Aires, Argentina)

Abstract

We introduce an agent-based, evolutionary model of decisions inspired by the increasing return theory. Agents have to choose between options taking into account their own preferences and externalities from their neighbors. The aim is to analyze the distribution of decisions in a square lattice domain and its dependence on the initial conditions. Numerical results show that an undesirable option may be adopted by the majority and may lock in markets by means of clever or lucky movements done at the beginning.

Suggested Citation

  • Sebastian D. Guala, 2006. "Model Of Influence: From Individual Decisions To Locked-In Markets," Advances in Complex Systems (ACS), World Scientific Publishing Co. Pte. Ltd., vol. 9(01n02), pages 59-67.
    • Handle: RePEc:wsi:acsxxx:v:09:y:2006:i:01n02:n:s0219525906000665
    DOI: 10.1142/S0219525906000665
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