A model of substitution in a competitive market

Peter L. Auer

Energy, 1981, vol. 6, issue 7, 561-570

Abstract: A dynamic model of technological substitution is developed which is a generalization of the two-party substitution model of Fisher and Pry. Competition among an arbitrary number of technologies is modeled as a sequence of pair-wise interactions. The intent is to reproduce the findings of Marchetti, who has observed that a large variety of historical substitutions follow a logistic pattern.

Date: 1981
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:6:y:1981:i:7:p:561-570

DOI: 10.1016/0360-5442(81)90011-6

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