English, Article edition: MODEL OF INFLUENCE: FROM INDIVIDUAL DECISIONS TO LOCKED-IN MARKETS SEBASTIAN D. GUALA

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Bookmark: http://trove.nla.gov.au/version/134199
Physical Description
  • article
Language
  • English

Edition details

Title
  • MODEL OF INFLUENCE: FROM INDIVIDUAL DECISIONS TO LOCKED-IN MARKETS
Author
  • SEBASTIAN D. GUALA
Physical Description
  • article
Notes
  • 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.
  • Evolutionary game, increasing return, decision model
  • RePEc:wsi:acsxxx:v:09:y:2006:i:01:p:59-67
Language
  • English
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