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A Modified Galam's Model

Andrea Ellero (), Giovanni Fasano () and Annamaria Sorato ()

No 180, Working Papers from Department of Applied Mathematics, Università Ca' Foscari Venezia

Abstract: In this paper we analyze the stochastic model proposed by Galam in [2], for information spreading in a `word-of-mouth' process among agents, based on a majority rule. Using the communications rules among agents defined in [2], we first perform simulations of the `word-of-mouth' process and compare the results with the theoretical values predicted by Galam's model. Since some dissimilarities arise in particular when a small number of agents is considered, we suggest some enhancements by introducing a new parameter dependent model. We propose a modified Galam's scheme which is asymptotically coincident with the original model in [2]. Furthermore, for relatively small values of the parameter, we provide a numerical experience proving that the modified model often outperforms the original one, in terms of efficiency.

Keywords: Word-of-mouth process; information spreading; agent based simulation (search for similar items in EconPapers)
JEL-codes: C02 C40 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2008-11
New Economics Papers: this item is included in nep-cmp
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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