Abstract
We propose a simple microscopic model of consumer behavior in which decisions are made solely on the basis of person to person communication. Within our model we determine which factors are important in word of mouth marketing. We provide both Monte Carlo simulations, as well as mean-field analytical calculations and show that both the average decision time and uncertainty of decision grow nonlinearly with the amount of information up to a certain threshold value.
| Original language | English |
|---|---|
| Article number | 1250080 |
| Journal | Advances in Complex Systems |
| Volume | 15 |
| Issue number | 8 |
| DOIs | |
| Publication status | Published - Dec 2012 |
Keywords
- Agent-based model
- cellular automata
- word of mouth marketing
ASJC Scopus subject areas
- Control and Systems Engineering
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