Multistability and path dependence in a dynamic brand competition model
The authors introduce a dynamic market share attraction model. In contrast to existing studies which often focus only on the local dynamics and may be demonstrate the possibility of cyclic and erratic fluctuations, the paper provides some insight into the properties of the global dynamical behaviour, that is the authors try to characterize the attractors and their corresponding basins. The authors show that situations of multistability may arise. The combination of rigorous arguments and numerical experiments give an insightful characterization of the wide array of possible dynamics which can arise in this model of brand competition.
scientific article; zbMATH DE number 2077312