A Cultural Market Model

Details A Cultural Market Model A Cultural Market Model

2007-07-16

arxiv.org/abs/0707.2341v2

International Journal of Modern Physics C Vol. 19, No. 2, 271-282 (2008)

Economy

Quantitative Finance

General Finance

Scientific paper

10.1142/S012918310801208X

Social interactions and personal tastes shape our consumption behavior of cultural products. In this study, we present a computational model of a cultural market and we aim to analyze the behavior of the consumer population as an emergent phenomena. Our results suggest that the final market shares of cultural products dramatically depend on consumer heterogeneity and social interaction pressure. Furthermore, the relation between the resulting market shares and social interaction is robust with respect to a wide range of variation in the parameter values and the type of topology.

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