TITLE:
Competitive Innovation Diffusion in Small-World Network: Agent-Based Modeling and Simulation
AUTHORS:
Yunfeng Yan, Ying Li
KEYWORDS:
Small-World Network; Innovation Diffusion; Competitive Innovations; Diffusion Model
JOURNAL NAME:
Technology and Investment,
Vol.3 No.3,
August
31,
2012
ABSTRACT: The main purpose of this paper is to analyze the dynamic process when two competitive innovations diffuse simultaneously in the small world network. To illustrate the micro diffusion process, an agent-based modeling and simulation method is applied. In the agent based model, there are two competitive innovations. Agents make decisions to adopt one of the innovations according to the utility value. The sensitivity of the parameters of the utility function is analyzed. The result indicates that in the early stage and the late stage the advertisement strategy is better; while in the middle stage the word-of-mouth will be better.