Modelling diffusion of innovations in a social network

Details Modelling diffusion of innovations in a social network Modelling diffusion of innovations in a social network

2002-04-05

arxiv.org/abs/cond-mat/0204141v1

Physics

Condensed Matter

Statistical Mechanics

4 pages, 5 figures. Final version accepted in PRE

Scientific paper

10.1103/PhysRevE.66.026121

A new simple model of diffusion of innovations in a social network with upgrading costs is introduced. Agents are characterized by a single real variable, their technological level. According to local information agents decide whether to upgrade their level or not balancing their possible benefit with the upgrading cost. A critical point where technological avalanches display a power-law behavior is also found. This critical point is characterized by a macroscopic observable that turns out to optimize technological growth in the stationary state. Analytical results supporting our findings are found for the globally coupled case.

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