An agent-based model of innovation diffusion: network structure and coexistence under different information regimes

Pegoretti, G. and Rentocchini, F. and Marzetti, G. V. (2012) An agent-based model of innovation diffusion: network structure and coexistence under different information regimes. Journal of Economic Interaction and Coordination. 21 p..

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Abstract

The paper analyzes howthe structure of social networks affects innovation diffusion and competition under different information regimes. Diffusion is modeled as the result of idiosyncratic adoption thresholds, local network effects and information diffusion (broadcasting and demonstration effect from previous adopters). A high social cohesion decreases the probability of one innovation cornering the market. Nonetheless, with imperfect information, in small-world networks the higher speed of diffusion produced by the low average distance increases this probability....

Item Type: Article
Additional Information: The authors would like to thank Marco Valente for the “after-sale support” of LSD, Sebastiano Delre who provided us with the C code of his agent based model and Torsten Heinrich for his comments. We are grateful to Gerald Silverberg and Lorenzo Zirulia for remarks and suggestions, as well as participants to the DIMEWorkshop on “Structure and Dynamics of Knowledge Networks” in Eindhoven (May 12-14, 2009) two anonymous referees for very useful and detailed comments. Francesco Rentocchini acknowledges funding from the Autonomous Province of Trento (Grant 2009 Outgoing: OVERNET). The usual caveats apply.
Author Affiliation: Department of Economics, University of Trento, via Inama 5, 38122 Trento, Italy
Subjects: Social Sciences > Management
Divisions: General
Depositing User: Mr Siva Shankar
Date Deposited: 13 Jul 2012 10:37
Last Modified: 13 Jul 2012 10:38
Official URL: http://dx.doi.org/10.1007/s11403-012-0087-4
URI: http://eprints.icrisat.ac.in/id/eprint/6754

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