Objective and subjective factors: modelling consumer behaviour from individual to population scale

Dr. Monica Cojocaru, associate professor of mathematics (University of Guelph), discusses her current research on the dynamic modelling approaches to population behaviour incorporating both objective and subjective decision factors. She presents a time-dependent extension of the standard, static model of consumer choice for differentiated products. Of central interest to her research is how consumers react to the introduction of a new product in the market.