Related papers: Why, when, and how fast innovations are adopted
We propose a simple model where the innovation rate of a technological domain depends on the innovation rate of the technological domains it relies on. Using data on US patents from 1836 to 2017, we make out-of-sample predictions and find…
In this paper we have proposed a basic agent-based model based on evolutionary dynamics for investigating innovation initiation process. In our model we suppose each agent will represent a firm which is interacting with other firms through…
While there is ample evidence that social and communication networks play a key role during the spread of new ideas, products, or services, network effects are expected to have diminished influence in the stationary state, when all users…
Rogers' diffusion of innovations theory asserts that cultural similarity among individuals plays a crucial role in the acceptance of an innovation in a community. However, most studies on the diffusion of innovations have relied on…
In this paper, we develop a theoretical model for the adoption process of Information System Security innovations in organisations. The model stemmed from the Diffusion of Innovation theory (DOI), the Technology Acceptance Model (TAM), the…
This article explores the concept of technological singularity and the factors that could accelerate or hinder its arrival. The butterfly effect is used as a framework to understand how seemingly small changes in complex systems can have…
One of the main promises of technology development is for it to be adopted by people, organizations, societies, and governments -- incorporated into their life, work stream, or processes. Often, this is socially beneficial as it automates…
Growing excitement around deploying AI across various domains calls for a careful assessment of how human decision-makers interact with AI-powered systems. In particular, it is essential to understand when decision-makers voluntarily choose…
It is essential for startups to quickly experiment business ideas by building tangible prototypes and collecting user feedback on them. As prototyping is an inevitable part of learning for early stage software startups, how fast startups…
Innovation is to organizations what evolution is to organisms: it is how organisations adapt to changes in the environment and improve. Governments, institutions and firms that innovate are more likely to prosper and stand the test of time;…
In order to create new products, inventors search and combine previous ideas. Few studies have examined the characteristics of search that lead to new products; most have focused on patent citations, which are often retrospective and may…
We apply a physical based model to describe the clothes fashion market. Every time a new outlet appears on the market, it can invade the market under certain specific conditions. Hence, the "old'' outlet can be completely dominated and…
This paper develops a unified framework for analyzing technology adoption in financial networks that incorporates spatial spillovers, network externalities, and their interaction. The framework characterizes adoption dynamics through a…
A model is developed to study the effectiveness of innovation and its impact on structure creation and structure change on agent-based societies. The abstract model that is developed is easily adapted to any particular field. In any…
A person's decision to adopt an idea or product is often driven by the decisions of peers, mediated through a network of social ties. A common way of modeling adoption dynamics is to use threshold models, where a node may become an adopter…
In our modern society, people are daily confronted with an increasing amount of information of any kind. As a consequence, the attention capacities and processing abilities of individuals often saturate. People, therefore, have to select…
Influence maximization is the problem of finding a set of influential users in a social network such that the expected spread of influence under a certain propagation model is maximized. Much of the previous work has neglected the important…
This note presents a simple overlapping-generations (OLG) model of the transmission of a trait, such as a culture. Initially, some fraction of agents carry the trait. In each time period, young agents are "born" and are influenced by some…
In hybrid populations where humans delegate strategic decision-making to autonomous agents, understanding when and how cooperative behaviors can emerge remains a key challenge. We study this problem in the context of energy load management:…
Neutral models aspire to explain biodiversity patterns in ecosystems where species difference can be neglected, as it might occur at a specific trophic level, and perfect symmetry is assumed between species. Voter-like models capture the…