The Evolution of ICT Markets: An Agent-Based Model on Complex Networks

  title={The Evolution of ICT Markets: An Agent-Based Model on Complex Networks},
  author={Liangjie Zhao and Bangtao Wu and Zhong Chen and Li Li},
Information and communication technology (ICT) products exhibit positive network effects.The dynamic process of ICT markets evolution has two intrinsic characteristics: (1) customers are influenced by each others’ purchasing decision; (2) customers are intelligent agents with bounded rationality.Guided by complex systems theory, we construct an agent-based model and simulate on complex networks to examine how the evolution can arise from the interaction of customers, which occur when they make… 
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