A MODEL FOR BRAND COMPETITION WITHIN A SOCIAL NETWORK

R. Huerta-Quintanilla, E. Canto-Lugo and M. Rodríguez-Achach ()
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R. Huerta-Quintanilla: Departamento de Física Aplicada, Centro de Investigación y de Estudios Avanzados del, Instituto Politécnico Nacional, Unidad Mérida, Km. 6 Carretera Antigua a Progreso, Mérida, Yucatán 97310, México
E. Canto-Lugo: Departamento de Física Aplicada, Centro de Investigación y de Estudios Avanzados del, Instituto Politécnico Nacional, Unidad Mérida, Km. 6 Carretera Antigua a Progreso, Mérida, Yucatán 97310, México
M. Rodríguez-Achach: Departamento de Física, Universidad Veracruzana, Circuito G. Aguirre Beltrán s/n, Zona Universitaria, Xalapa, Veracruz 91000, México

International Journal of Modern Physics C (IJMPC), 2010, vol. 21, issue 12, 1457-1467

Abstract: An agent-based model was built representing an economic environment in whichmbrands are competing for a product market. These agents represent companies that interact within a social network in which a certain agent persuades others to update or shift their brands; the brands of the products they are using. Decision rules were established that caused each agent to react according to the economic benefits it would receive; they updated/shifted only if it was beneficial. Each agent can have only one of thempossible brands, and she can interact with its two nearest neighbors and another set of agents which are chosen according to a particular set of rules in the network topology. An absorbing state was always reached in which a single brand monopolized the network (known as condensation). The condensation time varied as a function of model parameters is studied including an analysis of brand competition using different networks.

Keywords: Economic models; power law; econophysics; condensation; social networks; 89.65.-s; 89.65.Gh; 89.90.+n (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1142/S0129183110015981

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