Market choices driven by reference groups. An evolutionary approach

Michał Ramsza ()

Journal of Evolutionary Economics, 2015, vol. 25, issue 3, 622 pages

Abstract: The present paper tries to answer analytically how much the reference group influence can affect an actual market share of a particular brand or product. It is found that the increase of the size of a reference group and the probability of following the majority within the reference group may lead to the temporary modest prevalence of one brand. This result requires a relatively large size of a reference group and a high probability of following the majority within the reference group. If these conditions are not satisfied the effect on the market share is negligible. Copyright The Author(s) 2015

Keywords: Reference groups influence; Population games; Learning; C73; D71; D83 (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/s00191-015-0402-z

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