Competition, Diversity and Quality

Andre F. Ribeiro

Physica A: Statistical Mechanics and its Applications, 2021, vol. 568, issue C

Abstract: We study competition over populations (audiences, workers, students, etc.) Understanding how institutions, businesses and technologies offer solutions to diverse populations is increasingly important. We hypothesize a closed-form relationship among the amount of competition, population diversity and quality of solutions offered to populations. Typical homogeneous competition (e.g., in Supply–Demand–Price systems) becomes the special case of competition over populations with infinitesimal diversity, while competition over diverse populations leads to Competition–Diversity–Quality tradeoffs. We formulate this as a conservation-law for competitive systems and demonstrate that quality for population members is a periodic function of competition and diversity there. We consider the competition among movies, restaurants, schools, workers and countries (in world-wide trade).

Keywords: Competition; Population diversity; Urban scaling; Multi-scale systems; Economics; Recommending systems (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:568:y:2021:i:c:s037843712030981x

DOI: 10.1016/j.physa.2020.125683

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