An agent-based diffusion model with consumer and brand agents

Authored by Mary E. Schramm, Kevin J. Trainor, Murali Shanker, Michael Y. Hu

Date Published: 2010-12

DOI: 10.1016/j.dss.2010.08.004

Sponsors: No sponsors listed

Platforms: NetLogo

Model Documentation: Other Narrative Flow charts

Model Code URLs: Model code not found

Abstract

Market members interact within a complex, adaptive system to effect adoption decisions and the resulting diffusion of innovations. Agent-based modeling (ABM) is a methodology well suited for simulating this system. It complements and extends econometric approaches by incorporating interactions among system members, and adaptation in the system, revealing emergent results. Since ABM allows study at the individual unit level, heterogeneity among system members is reflected and modeling at the brand level is possible. Here an ABM with consumer and brand agents is described. The brand and product diffusion curve output allows study of diffusion at micro and macro levels, respectively. (C) 2010 Elsevier B.V. All rights reserved.

Tags

Agent-based modeling Innovation Adoption diffusion Brand Product