Modeling diffusion of innovations in a social network
Open Access
- 27 August 2002
- journal article
- research article
- Published by American Physical Society (APS) in Physical Review E
- Vol. 66 (2) , 026121
- https://doi.org/10.1103/physreve.66.026121
Abstract
A 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.Keywords
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