Paper Info
Title
On The Development Of Adoption Of Newer Successive Technologies Using Stochastic Differential Equation
Abstract
In the literature some models have been proposed to describe the diffusion behavior of the successive generational products based on deterministic new product diffusion models for single generational products. The deterministic models ignore the environmental as well as internal system disturbances. These disturbances create randomness in the adoption process which is likely to be larger in case of generational products. A few single generation diffusion models describe this randomness by introducing stochasticity using Ito's type stochastic differential equations. In this paper, we formulate a mathematical model, that simultaneously describe the adoption pattern of a base technology and substitution effect over the generations of the base product for durable technology product, using stochastic differential equations with continuous state space. The validity of the proposed model is illustrated using four generation IBM Main frame computer data reported in literature.
Year
DOI
Venue
2011
10.1109/IEEM.2011.6118236
2011 IEEE INTERNATIONAL CONFERENCE ON INDUSTRIAL ENGINEERING AND ENGINEERING MANAGEMENT (IEEM)
Keywords
Field
DocType
Stochastic differential equation, technology substitution, adoption process, diffusion process
Diffusion process,Differential equation,IBM,Mathematical optimization,Stochastic differential equation,Stochastic partial differential equation,State space,Operations management,Mathematics,Randomness,New product development
Conference
Citations 
PageRank 
References 
0
0.34
0
Authors
3
Name
Order
Citations
PageRank
P. C. Jha17418.92
Kuldeep Chaudhary201.69
Anshu Gupta3236.75