We extend the exchange economy evolutionary discrete-time model with heterogeneous agents introduced in ‘Fashion cycle dynamics in a model with endogenous discrete evolution of heterogeneous preferences’, by A. Naimzada and M. Pireddu, appeared in Chaos: An Interdisciplinary Journal of Nonlinear Science 28, 055907 (2018), by considering generic bell-shaped attractiveness functions for the two groups of agents, increasing for low visibility levels, but decreasing when the visibility of the group exceeds a given threshold value, due to a congestion effect. The reproduction level of a group is related to its attractiveness degree, which depends on its social visibility level, determined by the consumption choices of the agents in that group. We investigate the asymptotic heterogeneity among agents, finding that the global dynamics may differ according to the chosen functional form for the attractiveness. Nonetheless, the model is still able to reproduce the recurrent dynamic behaviour typical of the fashion cycle.

Naimzada, A., Pireddu, M. (2019). Fashion cycle dynamics induced by agents' heterogeneity for generic bell-shaped attractiveness functions. JOURNAL OF DIFFERENCE EQUATIONS AND APPLICATIONS, 25(7), 942-968 [10.1080/10236198.2019.1627344].

Fashion cycle dynamics induced by agents' heterogeneity for generic bell-shaped attractiveness functions

Naimzada, AK;Pireddu, M
2019

Abstract

We extend the exchange economy evolutionary discrete-time model with heterogeneous agents introduced in ‘Fashion cycle dynamics in a model with endogenous discrete evolution of heterogeneous preferences’, by A. Naimzada and M. Pireddu, appeared in Chaos: An Interdisciplinary Journal of Nonlinear Science 28, 055907 (2018), by considering generic bell-shaped attractiveness functions for the two groups of agents, increasing for low visibility levels, but decreasing when the visibility of the group exceeds a given threshold value, due to a congestion effect. The reproduction level of a group is related to its attractiveness degree, which depends on its social visibility level, determined by the consumption choices of the agents in that group. We investigate the asymptotic heterogeneity among agents, finding that the global dynamics may differ according to the chosen functional form for the attractiveness. Nonetheless, the model is still able to reproduce the recurrent dynamic behaviour typical of the fashion cycle.
Articolo in rivista - Articolo scientifico
bifurcations; complex dynamics; evolution; fashion cycle; Heterogeneous agents; multistability;
Heterogeneous agents; evolution; fashion cycle; bifurcations; multistability; complex dynamics
English
11-giu-2019
2019
25
7
942
968
reserved
Naimzada, A., Pireddu, M. (2019). Fashion cycle dynamics induced by agents' heterogeneity for generic bell-shaped attractiveness functions. JOURNAL OF DIFFERENCE EQUATIONS AND APPLICATIONS, 25(7), 942-968 [10.1080/10236198.2019.1627344].
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10281/232605
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