MODEL OF INFLUENCE: FROM INDIVIDUAL DECISIONS TO LOCKED-IN MARKETS

Sebastian D. Guala ()
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Sebastian D. Guala: Instituto de Ciencias, Universidad Nacional de General Sarmiento, Gutierrez 1150, B1613GSX, Buenos Aires, Argentina

Advances in Complex Systems (ACS), 2006, vol. 09, issue 01n02, 59-67

Abstract: We introduce an agent-based, evolutionary model of decisions inspired by the increasing return theory. Agents have to choose between options taking into account their own preferences and externalities from their neighbors. The aim is to analyze the distribution of decisions in a square lattice domain and its dependence on the initial conditions. Numerical results show that an undesirable option may be adopted by the majority and may lock in markets by means of clever or lucky movements done at the beginning.

Keywords: Evolutionary game; increasing return; decision model (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:wsi:acsxxx:v:09:y:2006:i:01n02:n:s0219525906000665

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DOI: 10.1142/S0219525906000665

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