Table 1 Consumer variables, their description and type
From: The diffusion of goods with multiple characteristics and price premiums: an agent-based model
Variable | Description | Type |
|---|---|---|
\(w_i\) | Budget. Each consumer i is endowed randomly with an individual budget, reacquired at each time-step | Exogenous-continuous |
\(\mathbf {I_i}\) | Intention. The set of intentions to purchase each of the characteristics of a given consumer i, the result of a dynamic process (written \(I_{i,a}\) to denote intention on a single characteristic a) | Endogenous-binary-vector |
\(\mathbf {B_i}\) | Purchase. The set of characteristics a consumer i actually purchases at a given time-step, with or without intention for each (written \(B_{i,a}\) to denote purchase of a single characteristic a). | Endogenous-binary-vector |
\(\mathbf {A_i}\) | Adoption. The set of characteristics a consumer i adopts, related to \(\mathbf {I_i}\) and \(w_i\) (written \(A_{i,a}\) to denote purchase of a single characteristic a) | Endogenous-binary-vector |
\(\mathbf {J_i}\) | The network of influence of an agent i, defined as the set of agents in i’s vicinity whose distance falls within the d parameter. Each agent in \(\mathbf {J_i}\) is denoted by the letter j | Exogenous |