@techreport{Hohnisch2006Percolation,
abstract = {A model of new-product diffusion is proposed in which a site-percolation dynamics represents socially-driven diffusion of knowledge about the product?s characteristics in a population of potential buyers. A consumer buys the new product if her valuation of it is not below the price of the product announced by the firm in a given period. Our model attributes the empirical finding of a delayed ?take-off? of a new product to a drift of the percolation dynamics from a non-percolating regime to a percolating regime. This drift is caused by learning-effects lowering the price of the product, or by network-effects increasing its valuation by consumers, with an increasing number of buyers.},
author = {Martin Hohnisch and Sabine Pittnauer and Dietrich Stauffer},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {L15; C15; O33; 330; new-product diffusion; innovation adoption; spatial stochastic processes; percolation},
language = {eng},
number = {2006,9},
title = {A Percolation-Based Model Explaining Delayed Take-Off in New-Product Diffusion},
type = {Bonn econ discussion papers},
url = {http://hdl.handle.net/10419/22954},
year = {2006}
}
