The economophysical model of the propagation of innovation: the Ising model

O. V. Zhdaneev () and I. R. Ovsyannikov ()

Russian Journal of Industrial Economics, 2024, vol. 17, issue 3

Abstract: The process of technical and economic justification of investment, analysis and evaluation of the effectiveness of innovation requires a tool for describing and modeling the process of distribution of technology in the industry. The work presents a model of propagation of innovation involving physical approaches, describing the market saturation point, i.e. the point at which the exponential growth of the innovation propagation speed is replaced by the logarithmic growth. The object of the study is the propagation of innovation, and the subject is the development of the market saturation point functional. The authors justified the implementation and described the approach to modeling of the process of saturation of the market with innovation by the physical Ising model. The value of the Ising model’s toolkit is presented by the Curie point in ferromagnets which characterizes the second order phase transition. The article presents the mathematical model of the compliance of physical parameters with economic ones: the amount of inter-company influence, barriers to implementation and breakthrough of innovation. The authors adduce the discussion of the limitations and applicability of this model as well as further potential directions of study of economophysical models. The tools developed by the authors can be used in all sectors of economics to improve their innovation activity level.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ach:journl:y:2024:id:1303

DOI: 10.17073/2072-1633-2024-3-1303

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