How effective is advertising in duopoly markets?

Katarzyna Sznajd-Weron and R. Weron
Authors registered in the RePEc Author Service: Rafał Weron

Physica A: Statistical Mechanics and its Applications, 2003, vol. 324, issue 1, 437-444

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.

Keywords: Econophysics; Advertising; Oligopoly; Duopoly; Ising model; Agent-based model (search for similar items in EconPapers)
Date: 2003
References: View complete reference list from CitEc
Citations: View citations in EconPapers (17)

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Related works:
Working Paper: How effective is advertising in duopoly markets? (2003)
Working Paper: How effective is advertising in duopoly markets? (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:324:y:2003:i:1:p:437-444

DOI: 10.1016/S0378-4371(02)01904-0

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