Evolutionary model of an anonymous consumer durable market

Joachim Kaldasch

Physica A: Statistical Mechanics and its Applications, 2011, vol. 390, issue 14, 2692-2715

Abstract: An analytic model is presented that considers the evolution of a market of durable goods. The model suggests that after introduction goods spread always according to a Bass diffusion. However, this phase will be followed by a diffusion process for durable consumer goods governed by a variation-selection-reproduction mechanism and the growth dynamics can be described by a replicator equation.

Keywords: Evolutionary economics; Economic growth; Product diffusion; Bass diffusion; Gompertz diffusion; Product life cycle; Price distribution; Laplace distribution; Replicator equation; Firm growth; Growth rate distribution (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (20)

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Related works:
Working Paper: Evolutionary Model of a Anonymous Consumer Durable Market (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:390:y:2011:i:14:p:2692-2715

DOI: 10.1016/j.physa.2011.02.039

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