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Innovation Diffusion

yuti — October 18, 2007 / 1:57 pm

Topik: General

There are five general approaches to explaining innovation diffusion(Peyton Young, 2006):

Inertia. People delay adopting out of inertia or because they need to wait for a revision opportunity to come along.
Contagion. People adopt the innovation when they hear about it from someone who has already adopted.
Conformity. People adopt when enough other people in the group have adopted.
Social learning. People adopt once they see enough evidence among prior adopters to convince them that the innovation is worth adopting.
Moving equilibrium. As external conditions change, say as the cost of the innovation decreases or information about it increases, more and more people adopt as their reservation thresholds are crossed.

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