Innovation diffusion of repeat purchase products in a competitive market: An agent-based simulation approach

Christian Stummer, Elmar Kiesling, Markus Günther and Rudolf Vetschera

European Journal of Operational Research, 2015, vol. 245, issue 1, 157-167

Abstract: When introducing a new product into market, substantial amounts of resources are put at stake. Innovation managers therefore seek for reliable predictions of the respective innovation diffusion process. Making such predictions, however, is challenging, because the diffusion trajectory is affected by various factors such as the type of innovation, its perceived attributes, marketing activities and their impact, or consumers’ individual communication and adoption behaviors. Modeling the diffusion of innovations accordingly is of interest for both practitioners and management scholars.

Keywords: Agent-based simulation; Diffusion of innovations; Second-generation biofuel (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (45)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:245:y:2015:i:1:p:157-167

DOI: 10.1016/j.ejor.2015.03.008

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