An agent-based diffusion model with consumer and brand agents

Mary E. Schramm, Kevin J Trainor, Murali Shanker, Michael Y. Hu

Research output: Contribution to journalArticle

39 Scopus citations

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 languageEnglish (US)
Pages (from-to)234-242
Number of pages9
JournalDecision Support Systems
Volume50
Issue number1
DOIs
StatePublished - Dec 2010
Externally publishedYes

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Keywords

  • Adoption
  • Agent-based modeling
  • Brand
  • Diffusion
  • Innovation
  • Product

ASJC Scopus subject areas

  • Management Information Systems
  • Information Systems
  • Information Systems and Management

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