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A Cusp Catastrophe Model of the Adoption of an Industrial Innovation
Author(s) -
Herbig Paul A.
Publication year - 1991
Publication title -
journal of product innovation management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.646
H-Index - 144
eISSN - 1540-5885
pISSN - 0737-6782
DOI - 10.1111/1540-5885.820127
Subject(s) - bandwagon effect , catastrophe theory , cusp (singularity) , classification of discontinuities , diffusion , gompertz function , innovation diffusion , economics , industrial organization , economic geography , mathematical economics , microeconomics , econometrics , business , mathematics , marketing , physics , geology , mathematical analysis , geometry , statistics , psychology , social psychology , geotechnical engineering , thermodynamics
The diffusion of a technological innovation often follows the pattern of the familiar ‘S’‐curve—the classic smooth, cumulative adoption curve. Yet, an individual firm's decision to adopt or reject an innovation may be filled with discontinuous events, represented by familiar concepts like diffusion thresholds, bandwagon effects and the sudden rejection or displacement of an existing innovation. Paul Herbig reports how catastrophe theory can be used to describe many of these sudden changes and discontinuities. His article describes a model for a firm's adoption or rejection of an innovation via the cusp catastrophe, which he illustrates with a number of possible examples.