The Evolutionary and Adaptive Economic Behavior » książka
The Evolutionary and Adaptive Economic Behavior
ISBN-13: 9783639170887 / Angielski / Miękka / 2009 / 192 str.
When confronted with product whose attributes are unknown, consumers can determine its quality by either trying it or wait to observe the experience of predecessors. Based on this attitude, we illustrate the economic behavior of choice among movie goers and how distributors and exhibitors adapt to the behavior to optimize Box O ce collection. Speci cally, we explain how the adaptive behavior among the heterogeneous consumers enables the evolution of optimal choice. Although the arrival of choice can explain the convergence or clustering of opinions, it is not a static point in the classical economic equilibrium sense. Rather, the arrival of new innovations and information necessitates the constant adjustment of opinions to suit the requirement of the environment. This dynamism is accounted for in the release and portfolio decision in exhibition market, especially the exhibition contract crafted should be adaptive and contingent to the demand revealed throughout the runs of a lm."
When confronted with product whose attributes areunknown, consumers can determine its quality by either tryingit or wait to observe the experience of predecessors. Based on thisattitude, we illustrate the economic behavior of choice among movie goers and how distributors and exhibitors adapt tothe behavior to optimize Box Office collection. Specifically, we explainhow the adaptive behavior among the heterogeneous consumersenables the evolution of optimal choice. Although the arrival ofchoice can explain the convergence or clustering of opinions, itis not a static point in the classical economic equilibrium sense.Rather, the arrival of new innovations and information necessitates theconstant adjustment of opinions to suit the requirement of theenvironment. This dynamism is accounted for in the release andportfolio decision in exhibition market, especially the exhibitioncontract crafted should be adaptive and contingent to the demand revealed throughout the runs of a film.
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