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Dynamics of brand competition: Effects of unobserved social networks

Sengupta, Abhijit and Greetham, Danica Vukadinović (2010) Dynamics of brand competition: Effects of unobserved social networks Journal of Economic Dynamics and Control, 34 (12). pp. 2391-2406.

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Brand competition is modelled using an agent based approach in order to examine the long run dynamics of market structure and brand characteristics. A repeated game is designed where myopic firms choose strategies based on beliefs about their rivals and consumers. Consumers are heterogeneous and can observe neighbour behaviour through social networks. Although firms do not observe them, the social networks have a significant impact on the emerging market structure. Presence of networks tends to polarize market share and leads to higher volatility in brands. Yet convergence in brand characteristics usually happens whenever the market reaches a steady state. Scale-free networks accentuate the polarization and volatility more than small world or random networks. Unilateral innovations are less frequent under social networks.

Item Type: Article
Divisions : Faculty of Arts and Social Sciences > Surrey Business School
Authors :
Greetham, Danica Vukadinović
Date : 15 June 2010
Funders : Unilever
DOI : 10.1016/j.jedc.2010.06.009
Copyright Disclaimer : Copyright © 2010 Elsevier B.V. All rights reserved.
Additional Information : Embargo OK Metadata OK No Further Action
Depositing User : James Marshall
Date Deposited : 19 Aug 2020 14:11
Last Modified : 19 Aug 2020 14:11

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