An agent-based simulation of lock-in dynamics in a duopoly
نویسندگان
چکیده
We create an agent-based simulation to explore consumer lock-in in a duopoly of experience goods (goods with characteristics that are difficult to determine in advance, but ascertained upon consumption). We model heterogeneous agents using simple assumptions, where agents choose between products based upon personal experience and neighbours’ decisions. We test strategies to break a lock-in through a free give-away and advertising. We find that, under our assumptions, breaking a lock-in required the formation of regions where the competitor product was adopted, likened to a niche in the market.
منابع مشابه
Agent-based simulation of lock-in dynamics in a duopoly
Lock-in is observed in real world markets of experience goods; experience goods are goods whose characteristics are difficult to determine in advance, but ascertained upon consumption. We create an agent-based simulation of consumers choosing between two experience goods available in a virtual market. We model consumers in a grid representing the spatial network of the consumers. Utilising simp...
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