English, Article, Journal or magazine article edition: A Percolation-Based Model Explaining Delayed Take-Off in New-Product Diffusion Martin Hohnisch; Sabine Pittnauer; Dietrich Stauffer

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Bookmark: http://trove.nla.gov.au/version/52684
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • A Percolation-Based Model Explaining Delayed Take-Off in New-Product Diffusion
Author
  • Martin Hohnisch
  • Sabine Pittnauer
  • Dietrich Stauffer
Physical Description
  • preprint
Notes
  • A model of new-product diffusion is proposed in which a site-percolation dynamics represents socially-driven diffusion of knowledge about the product's characteristics in a population of potential buyers. A consumer buys the new product if her valuation of it is not below the price of the product announced by the firm in a given period. Our model attributes the empirical finding of a delayed ``take-off'' of a new product to a drift of the percolation dynamics from a non-percolating regime to a percolating regime. This drift is caused by learning-effects lowering the price of the product, or by network-effects increasing its valuation by consumers, with an increasing number of buyers.
  • new-product diffusion, innovation adoption, spatial stochastic processes, percolation
  • RePEc:bon:bonedp:bgse9_2006
Language
  • English
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