MATHEMATICAL MODEL FOR THE DIFFUSION OF INNOVATION.

Peter Markowich*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

1 Scopus citations

Abstract

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 languageEnglish (US)
Pages (from-to)504-509
Number of pages6
JournalIEEE Transactions on Systems, Man and Cybernetics
VolumeSMC-11
Issue number7
StatePublished - Jul 1981
Externally publishedYes

ASJC Scopus subject areas

  • Engineering(all)

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