New Product Adoption in a Friendship Network using Spatial Lag Model

Di Fang and Richard Morrison

No 166091, 2014 AAEA/EAAE/CAES Joint Symposium: Social Networks, Social Media and the Economics of Food, May 29-30, 2014, Montreal, Canada from Agricultural and Applied Economics Association

Abstract: In this study we address the following question: does friendship facilitate the adoption of a risk inherent new product? We did a validation study with a previously recorded friendship network and simulated scenario of a new energy drink. We learn that spill over effect for such a friendship network is significantly more powerful than product attributes or social demographic attributes. We conducted a spatial two-stage least square analysis with simulated data.

Keywords: Consumer/Household Economics; Institutional and Behavioral Economics (search for similar items in EconPapers)
Pages: 5
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aajs14:166091

DOI: 10.22004/ag.econ.166091

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