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Some Dynamic Market Models

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  • Jan A. Audestad

Abstract

In this text, we study the temporal behavior of markets using models expressible as ordinary differential equations. The markets studied are those where each customer buys only one copy of the good, for example, subscription of smartphone service, journals and newspapers, and goods such as books, music and games. The underlying model is the diffusion model of Frank Bass. Evolution of markets with no competitors and markets with several competitors are analyzed where, in particulat, the effects of churning upon the market evolution is investigated. Analytic solutions are given for the temporal evolution of several types of interactive games.

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  • Jan A. Audestad, 2015. "Some Dynamic Market Models," Papers 1511.07203, arXiv.org.
    • Handle: RePEc:arx:papers:1511.07203
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    References listed on IDEAS

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    1. Tesfatsion, Leigh & Judd, Kenneth L., 2006. "Handbook of Computational Economics, Vol. 2: Agent-Based Computational Economics," Staff General Research Papers Archive 10368, Iowa State University, Department of Economics.
    2. Leigh Tesfatsion & Kenneth L. Judd (ed.), 2006. "Handbook of Computational Economics," Handbook of Computational Economics, Elsevier, edition 1, volume 2, number 2.
    3. Frank M. Bass, 1969. "A New Product Growth for Model Consumer Durables," Management Science, INFORMS, vol. 15(5), pages 215-227, January.
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    Cited by:

    1. Øverby, Harald & Audestad, Jan A. & Szalkowski, Gabriel Andy, 2023. "Compartmental market models in the digital economy—extension of the Bass model to complex economic systems," Telecommunications Policy, Elsevier, vol. 47(1).

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