Modelling diffusion of innovations in a social network
arXiv:cond-mat/0204141 · doi:10.1103/PhysRevE.66.026121
Abstract
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.
4 pages, 5 figures. Final version accepted in PRE