Transitions between metastable long-run consumption behaviors in a stochastic peer-driven consumer network

Jochen Jungeilges, Trygve Kastberg Nilssen, Tatyana Perevalova, Alexander Satov
2021 Discrete and continuous dynamical systems. Series B  
<p style='text-indent:20px;'>We study behavioral change - as a transition between coexisting attractors - in the context of a stochastic, non-linear consumption model with interdependent agents. Relying on the indirect approach to the analysis of a stochastic dynamic system, and employing a mix of analytical, numerical and graphical techniques, we identify conditions under which such transitions are likely to occur. The stochastic analysis depends crucially on the stochastic sensitivity
more » ... technique as it can be applied to the stochastic analoga of closed invariant curves [<xref ref-type="bibr" rid="b14">14</xref>], [<xref ref-type="bibr" rid="b1">1</xref>]. We find that in a moderate noise environment increased peer influence actually reduces the complexity of observable long-run consumer behavior.</p>
doi:10.3934/dcdsb.2021232 fatcat:lwyd6jxhezatrerxh7f5yd35li