A CULTURAL MARKET MODEL

Amaç Herdaǧdelen () and Haluk Bingol ()
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Amaç Herdaǧdelen: Computer Engineering Department, Bogazici University, Istanbul 34342, Turkey
Haluk Bingol: Computer Engineering Department, Bogazici University, Istanbul 34342, Turkey

International Journal of Modern Physics C (IJMPC), 2008, vol. 19, issue 02, 271-282

Abstract: Social interactions and personal tastes shape our consumption behavior of cultural products. In this study, we present a computational model of a cultural market and we aim to analyze the behavior of the consumer population as an emergent phenomena. Our results suggest that the final market shares of cultural products dramatically depend on consumer heterogeneity and social interaction pressure. Furthermore, the relation between the resulting market shares and social interaction is robust with respect to a wide range of variation in the parameter values and the type of topology.

Keywords: Market inequality; social influence; cultural markets; herding; 87.23.Ge; 89.65.Gh (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1142/S012918310801208X

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