Agent-based simulation of innovation diffusion: a review

Kiesling, E. and Günther, M. and Stummer, C. and Wakolbinger, L. M. (2012) Agent-based simulation of innovation diffusion: a review. Central European Journal of Operations Research, 20 (2). pp. 183-230.

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Mathematical modeling of innovation diffusion has attracted strong academic interest since the early 1960s. Traditional diffusionmodels have aimed at empirical generalizations and hence describe the spread of new products parsimoniously at themarket level.More recently, agent-based modeling and simulation has increasingly been adopted since it operates on the individual level and, thus, can capture complex emergent phenomena highly relevant in diffusion research. Agent-based methods have been applied in this context both as intuition aids that facilitate theory-building and as tools to analyze real-world scenarios, support management decisions and obtain policy recommendations.

Item Type: Article
Additional Information: This work was supported by the Austrian Science Fund (FWF) under grant No. P20136-G14. The paper benefited substantially from comments of two anonymous referees for which we are grateful.
Uncontrolled Keywords: Agent-based modeling, Simulation, Innovation diffusion, Review
Author Affiliation: Department of Business Administration, University of Vienna, Bruenner Str. 72, 1210 Vienna, Austria
Subjects: Social Sciences > Management
Divisions: General
Depositing User: Mr Siva Shankar
Date Deposited: 13 Jul 2012 10:33
Last Modified: 13 Jul 2012 10:34
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