A model for the temporal diffusion of technological innovations is presented. This model is derived by describing mathematically the production behavior of technologies and the buying behavior of the average consumer. It has the structure of a three-dimensional dynamical system, and its state variables are the production quantities of the innovative and the old technology and the market share of the innovative technology in terms of sales. Unit prices and external capital flows of both technologies are regarded as external variables. The focus of the model is the exploration and description of the interaction of the technological and societal aspects which drive the diffusion process.
|Original language||English (US)|
|Number of pages||6|
|Journal||IEEE Transactions on Systems, Man and Cybernetics|
|State||Published - Jul 1981|
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