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Which types of networks favor the diffusion of innovations in the sense that an innovation whose intrinsic benefits are greater than those of an established choice will be able to replace the latter when it is initially used only by a small fraction of a large population? For deterministic and...
Persistent link: https://www.econbiz.de/10008747053
We study a linear location model (Hotelling, 1929) in which n (with n = 2) boundedly rational players follow (noisy) myopic best-reply behavior. We show through numerical and mathematical analysis that such players spend almost all the time clustered together near the center, re-establishing the...
Persistent link: https://www.econbiz.de/10011447055