A Cultural Market Model

TL;DR

This paper introduces a computational model of a cultural market to analyze how social interactions and individual preferences influence consumption patterns, revealing that market shares are highly sensitive to consumer diversity and social influence.

Contribution

It presents a novel computational framework for understanding cultural market dynamics and demonstrates the robustness of social influence effects across various parameters and network structures.

Findings

Market shares depend heavily on consumer heterogeneity.

Social interaction pressure significantly impacts consumption outcomes.

Results are consistent across different network topologies.

Abstract

Social interactions and personal tastes shape our consumption behavior of cultural products. In this study, we present a computational model of a cultural market and we aim to analyze the behavior of the consumer population as an emergent phenomena. Our results suggest that the final market shares of cultural products dramatically depend on consumer heterogeneity and social interaction pressure. Furthermore, the relation between the resulting market shares and social interaction is robust with respect to a wide range of variation in the parameter values and the type of topology.