论文标题
网络效应引起的竞争市场的非平衡相变
Non-equilibrium phase transitions in competitive markets caused by network effects
论文作者
论文摘要
网络效应是仅源自产品在经济市场中的普及而得出的附加价值。使用受统计物理学启发的基于代理的模型，我们提出了一个最小的理论，即（几乎）无法区分的商品具有需求端网络效应，由统计上相同的卖家出售。由于网络效应较弱，该模型再现了常规的微观经济学：（几乎）完美竞争的统计稳态状态。随着网络效应的增加，我们发现了一个相过渡到稳健的非平衡相，该相位是由市场中FAD的自发形成和崩溃驱动的。当卖方足够快地更新价格时，新兴的垄断者可以捕捉市场并削弱竞争，从而导致对称性和超值破坏性的过渡。非平衡阶段同时表现出竞争性市场标准理论中未包含的三种现象：自发的价格波动，持续的卖方利润以及公司市场份额的广泛分布。
Network effects are the added value derived solely from the popularity of a product in an economic market. Using agent-based models inspired by statistical physics, we propose a minimal theory of a competitive market for (nearly) indistinguishable goods with demand-side network effects, sold by statistically identical sellers. With weak network effects, the model reproduces conventional microeconomics: there is a statistical steady state of (nearly) perfect competition. Increasing network effects, we find a phase transition to a robust non-equilibrium phase driven by the spontaneous formation and collapse of fads in the market. When sellers update prices sufficiently quickly, an emergent monopolist can capture the market and undercut competition, leading to a symmetry- and ergodicity-breaking transition. The non-equilibrium phase simultaneously exhibits three empirically established phenomena not contained in the standard theory of competitive markets: spontaneous price fluctuations, persistent seller profits, and broad distributions of firm market shares.
