An opinion dynamics model for the diffusion of innovations

André C.R. Martins, Carlos de B. Pereira and Renato Vicente

Physica A: Statistical Mechanics and its Applications, 2009, vol. 388, issue 15, 3225-3232

Abstract: We study the dynamics of the adoption of new products by agents with continuous opinions and discrete actions (CODA). The model is such that the refusal in adopting a new idea or product is increasingly weighted by neighbor agents as evidence against the product. Under these rules, we study the distribution of adoption times and the final proportion of adopters in the population. We compare the cases where initial adopters are clustered to the case where they are randomly scattered around the social network and investigate small world effects on the final proportion of adopters. The model predicts a fat tailed distribution for late adopters which is verified by empirical data.

Keywords: Opinion dynamics; Innovation diffusion; Marketing; Sociophysics (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (21)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:388:y:2009:i:15:p:3225-3232

DOI: 10.1016/j.physa.2009.04.007

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