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Diffusion of Innovations, System Dynamics Analysis of the

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Encyclopedia of Complexity and Systems Science
FormalPara Glossary
Adopters:

The cumulated number of persons who have bought a product over time.

Diffusion:

The spread of a new product, process or concept in the market. The process of bringing innovation into wide use.

Imitator:

An imitator buy a new product because he observed or communicated with customers who have already bought the product. The buying decision of imitators is influenced by the adoption of other customers.

Innovation:

The process of bringing new technology into use.

Innovator:

A customer with general interest in innovations making his buying decision independent of others.

Installed base:

Installed base is defined as the amount of users in a network system.

Invention:

The process of bringing new technology into being.

Network effects:

A product is characterized by a network effect, if the utility of that product is a function of the installed base. The utility increases with the installed base.

Definition of the Subject

The article describes how system...

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Milling, P.M., Maier, F.H. (2017). Diffusion of Innovations, System Dynamics Analysis of the. In: Meyers, R. (eds) Encyclopedia of Complexity and Systems Science. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-27737-5_124-2

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