Consumers don’t play dice, influence of social networks and advertisements

Robert D. Groot

Physica A: Statistical Mechanics and its Applications, 2006, vol. 363, issue 2, 446-458

Abstract: Empirical data of supermarket sales show stylised facts that are similar to stock markets, with a broad (truncated) Lévy distribution of weekly sales differences in the baseline sales [R.D. Groot, Physica A 353 (2005) 501]. To investigate the cause of this, the influence of social interactions and advertisements are studied in an agent-based model of consumers in a social network. The influence of network topology was varied by using a small-world network, a random network and a Barabási–Albert network. The degree to which consumers value the opinion of their peers was also varied.

Date: 2006
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:363:y:2006:i:2:p:446-458

DOI: 10.1016/j.physa.2005.08.023

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