43. Mathematical Modeling of the Brewery Sector in Greece with the Use of Differential Equations

Computational biology models of the Volterra–Lotka family, known as competing species models, are used for modeling an oligopoly market, with application to the brewery sector in Greece. Parameter estimation with nonlinear least squares is performed. The findings show the company with the larger market share is experiencing a strong competition from all the other companies of the sector; the coefficient is negative and its value is −0.59. However, the coefficient for the “rest of the companies” in the sector has a positive sign although its value is small, about 0.07. This indicates that smaller companies of the sector benefited by the increase of sales of the first company maybe because they are targeting consumers with different tastes offering a completely differentiated product.