Fermi Model Sample Clauses

Fermi Model. Another potential model has a similar functional form as the Fermi distribution in statistical physics. Recall the Ising model in previous sections, after receiving information ri, consumer i will compare it with the benchmark point 50% to make his/her decision; however, in the Fermi model, this 50% is replaced by consumer’s innate purchase probability P0. We assume in the Fermi model that a real purchase percentage which exceeds consumer’s innate probability P0 will increase their like- lihood of purchasing, while a r below P0 will lower the respondent’s final purchase probability and a real purchase percentage equal to P0 will have no effects on a respondent’s final decision. Let the non-Markovian purchase probability of ith consumer satisfy the Fermi distribution: P0