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System Dynamics: Introduction Read chapter Read first chapter

2020 | OriginalPaper | Chapter

System Dynamics Analysis of the Diffusion of Innovations

Authors : Peter M. Milling, Frank H. Maier

Published in: System Dynamics

Publisher: Springer US

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Excerpt

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 buys 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.
…

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previous chapter System Dynamics and Workforce Planning
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Metadata
Title
System Dynamics Analysis of the Diffusion of Innovations
Authors
Peter M. Milling
Frank H. Maier
Copyright Year
2020
Publisher
Springer US
Book
System Dynamics

Print ISBN: 978-1-4939-8789-4

Electronic ISBN: 978-1-4939-8790-0

Copyright Year: 2020

DOI
https://doi.org/10.1007/978-1-4939-8790-0_124