Evolutionary model of an anonymous consumer durable market

An analytic model is presented that considers the evolution of a market of durable goods. The model suggests that after introduction goods spread always according to a Bass diffusion. However, this phase will be followed by a diffusion process for durable consumer goods governed by a variation-selection-reproduction mechanism and the growth dynamics can be described by a replicator equation.

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Year of publication:	2011
Authors:	Kaldasch, Joachim
Published in:	Physica A: Statistical Mechanics and its Applications. - Elsevier, ISSN 0378-4371. - Vol. 390.2011, 14, p. 2692-2715
Publisher:	Elsevier
Subject:	Evolutionary economics \| Economic growth \| Product diffusion \| Bass diffusion \| Gompertz diffusion \| Product life cycle \| Price distribution \| Laplace distribution \| Replicator equation \| Firm growth \| Growth rate distribution

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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