Abstract
Market members interact within a complex, adaptive system to effect adoption decisions and the resulting diffusion of innovations. Agent-based modeling (ABM) is a methodology well suited for simulating this system. It complements and extends econometric approaches by incorporating interactions among system members, and adaptation in the system, revealing emergent results. Since ABM allows study at the individual unit level, heterogeneity among system members is reflected and modeling at the brand level is possible. Here an ABM with consumer and brand agents is described. The brand and product diffusion curve output allows study of diffusion at micro and macro levels, respectively.
Original language | English (US) |
---|---|
Pages (from-to) | 234-242 |
Number of pages | 9 |
Journal | Decision Support Systems |
Volume | 50 |
Issue number | 1 |
DOIs | |
State | Published - Dec 2010 |
Keywords
- Adoption
- Agent-based modeling
- Brand
- Diffusion
- Innovation
- Product
ASJC Scopus subject areas
- Management Information Systems
- Information Systems
- Developmental and Educational Psychology
- Arts and Humanities (miscellaneous)
- Information Systems and Management