In this paper, we propose a model to describe the mutual interactions among the lifecycles of three substitute products acting simultaneously in a common market, thus competing for the same customers or cooperating to supply demand. To date, the literature only describes models for two competitors; therefore, the present work represents the first attempt at creating and implementing a model for three actors. The new model is applied to real data in the energy context, and its performance is compared to the performance of current models for two competitors. Regarding the datasets examined, the new model shows a relevant improvement in terms of forecasting performance, that is forecasting accuracy and prediction confidence band width.

Interaction among three substitute products: an extended innovation diffusion model

Furlan, Claudia;Mortarino, Cinzia
;
Zahangir, Mohammad Salim
2021

Abstract

In this paper, we propose a model to describe the mutual interactions among the lifecycles of three substitute products acting simultaneously in a common market, thus competing for the same customers or cooperating to supply demand. To date, the literature only describes models for two competitors; therefore, the present work represents the first attempt at creating and implementing a model for three actors. The new model is applied to real data in the energy context, and its performance is compared to the performance of current models for two competitors. Regarding the datasets examined, the new model shows a relevant improvement in terms of forecasting performance, that is forecasting accuracy and prediction confidence band width.
File in questo prodotto:
Non ci sono file associati a questo prodotto.
Pubblicazioni consigliate

Caricamento pubblicazioni consigliate

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11577/3337611
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 0
  • ???jsp.display-item.citation.isi??? 2
social impact