Premium
A flexible model of technological diffusion incorporating economic factors with an application to the spread of colour television ownership in the UK
Author(s) -
Karshenas Massou D.,
Stoneman Paul
Publication year - 1992
Publication title -
journal of forecasting
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.543
H-Index - 59
eISSN - 1099-131X
pISSN - 0277-6693
DOI - 10.1002/for.3980110702
Subject(s) - diffusion , computer science , diffusion process , innovation diffusion , process (computing) , econometrics , economic model , economics , microeconomics , knowledge management , physics , thermodynamics , operating system
In this paper a new encompassing flexible diffusion model of the epidemic type is proposed and its properties explored. Economic factors are incorporated directly into the model. The new model allows freer interaction between exogenous and endogenous factors in the diffusion process than existing models of this type. The model is applied to the diffusion of colour television ownership in the UK and outperforms the existing models in the literature. The exogenous factors are shown to play a more dominant role in the diffusion of colour television in the UK than existing models allow.