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MODEL OF INFLUENCE: FROM INDIVIDUAL DECISIONS TO LOCKED-IN MARKETS

SEBASTIAN D. GUALA

Instituto de Ciencias, Universidad Nacional de General Sarmiento, Gutierrez 1150, B1613GSX, Buenos Aires, Argentina

https://doi.org/10.1142/S0219525906000665Cited by:0 (Source: Crossref)

Abstract

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.

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