IDEAS home Printed from https://ideas.repec.org/p/ufg/qdsems/18-2008.html
   My bibliography  Save this paper

A time delay model for a new technology

Author

Listed:
  • Lucia Maddalena
  • Viviana Fanelli

Abstract

In this paper we propose a mathematical model with time delay to describe the process of the diffusion for a new technology. This model is suitable for modelling diffusion processes of all those technologies, such as technologies used for producing renewable energy, that require great initial investments and public subsidies. We consider external factors, such as the government policy and the production costs, that influence the decision making process for new technology adoption. We also consider the internal influence from those who already are adopters. The time delay represents the evaluation stage at which the potential consumers decide whether to adopt the new technology or not. A delay differential equation describes the process of adoption. A qualitative analysis is carried out in order to study the stability of the equilibrium for certain parameters and to find the final level of adopters.

Suggested Citation

  • Lucia Maddalena & Viviana Fanelli, 2008. "A time delay model for a new technology," Quaderni DSEMS 18-2008, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia.
    • Handle: RePEc:ufg:qdsems:18-2008
    as

    Download full text from publisher

    File URL: http://www.economia.unifg.it/sites/sd01/files/allegatiparagrafo/29-11-2016/q182008.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Frank M. Bass, 1969. "A New Product Growth for Model Consumer Durables," Management Science, INFORMS, vol. 15(5), pages 215-227, January.
    2. Doraszelski, Ulrich, 2004. "Innovations, improvements, and the optimal adoption of new technologies," Journal of Economic Dynamics and Control, Elsevier, vol. 28(7), pages 1461-1480, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jeong, Yujin & Park, Inchae & Yoon, Byungun, 2016. "Forecasting technology substitution based on hazard function," Technological Forecasting and Social Change, Elsevier, vol. 104(C), pages 259-272.
    2. Oscar Gutiérrez & Francisco Ruiz-Aliseda, 2011. "Real options with unknown-date events," Annals of Finance, Springer, vol. 7(2), pages 171-198, May.
    3. Shari, Babajide Epe & Dioha, Michael O. & Abraham-Dukuma, Magnus C. & Sobanke, Victor O. & Emodi, Nnaemeka V., 2022. "Clean cooking energy transition in Nigeria: Policy implications for Developing countries," Journal of Policy Modeling, Elsevier, vol. 44(2), pages 319-343.
    4. Cambier, Adrien & Chardy, Matthieu & Figueiredo, Rosa & Ouorou, Adam & Poss, Michael, 2022. "Optimizing subscriber migrations for a telecommunication operator in uncertain context," European Journal of Operational Research, Elsevier, vol. 298(1), pages 308-321.
    5. Tiruwork B. Tibebu & Eric Hittinger & Qing Miao & Eric Williams, 2024. "Adoption Model Choice Affects the Optimal Subsidy for Residential Solar," Energies, MDPI, vol. 17(3), pages 1-19, February.
    6. Simon P. Anderson & André de Palma, 2012. "Competition for attention in the Information (overload) Age," RAND Journal of Economics, RAND Corporation, vol. 43(1), pages 1-25, March.
    7. Van, Tien Linh Cao & Barthelmes, Lukas & Gnann, Till & Speth, Daniel & Kagerbauer, Martin, 2021. "Addressing the gaps in market diffusion modeling of electrical vehicles: A case study from Germany for the integration of environmental policy measures," Working Papers "Sustainability and Innovation" S05/2021, Fraunhofer Institute for Systems and Innovation Research (ISI).
    8. Klingler, Anna-Lena & Luthander, Rasmus, 2018. "Market diffusion of residential PV and battery systems driven by self-consumption: A comparison of Sweden and Germany," Working Papers "Sustainability and Innovation" S18/2018, Fraunhofer Institute for Systems and Innovation Research (ISI).
    9. Edgardo Arturo Ayala Gaytán, 2009. "Social network externalities and price dispersion in online markets," Ensayos Revista de Economia, Universidad Autonoma de Nuevo Leon, Facultad de Economia, vol. 0(2), pages 1-28, November.
    10. Régis Chenavaz & Corina Paraschiv & Gabriel Turinici, 2017. "Dynamic Pricing of New Products in Competitive Markets: A Mean-Field Game Approach," Working Papers hal-01592958, HAL.
    11. White, Reilly & Marinakis, Yorgos & Islam, Nazrul & Walsh, Steven, 2020. "Is Bitcoin a currency, a technology-based product, or something else?," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
    12. Shigeno, Hidenori & Matsuzaki, Taisuke & Ueki, Yasushi & Tsuji, Masatsugu, 2023. "The Effect of the Covid-19 Pandemic on the Innovation Process of Small and Medium-sized Regional Firms," 32nd European Regional ITS Conference, Madrid 2023: Realising the digital decade in the European Union – Easier said than done? 278018, International Telecommunications Society (ITS).
    13. Sohn, So Young & Lim, Michael, 2008. "The effect of forecasting and information sharing in SCM for multi-generation products," European Journal of Operational Research, Elsevier, vol. 186(1), pages 276-287, April.
    14. Day Yang Liu & Wen Chun Tsai & Pei Leen Liu & Chung Yi Fang, 2021. "Determinants of sales revenue in innovation diffusion effects of Taiwan sports lottery during the FIFA World Cup 2018," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 10(4), pages 43-58, June.
    15. Yoshida, Masayuki & James, Jeffrey D. & Cronin, J. Joseph, 2013. "Sport event innovativeness: Conceptualization, measurement, and its impact on consumer behavior," Sport Management Review, Elsevier, vol. 16(1), pages 68-84.
    16. Marie-Estelle Binet & Lionel Richefort, 2011. "Diffusion of irrigation technologies: the role of mimicking behaviour and public incentives," Applied Economics Letters, Taylor & Francis Journals, vol. 18(1), pages 43-48.
    17. R. Bentley & Michael O’Brien & Paul Ormerod, 2011. "Quality versus mere popularity: a conceptual map for understanding human behavior," Mind & Society: Cognitive Studies in Economics and Social Sciences, Springer;Fondazione Rosselli, vol. 10(2), pages 181-191, December.
    18. Jingjing Zhao & Yongli Li & Yunlong Ding & Chao Liu, 2019. "The value of leading customers in a crowdfunding-based marketing pattern," PLOS ONE, Public Library of Science, vol. 14(4), pages 1-18, April.
    19. Theoharakis Vasilis & Vakratsas Demetrios & Wong Veronica, 2004. "The Relationship between Market Share and Information in a High-Tech Industry," Review of Marketing Science, De Gruyter, vol. 2(1), pages 1-14, January.
    20. Allen, Darcy W.E. & Berg, Chris & Markey-Towler, Brendan & Novak, Mikayla & Potts, Jason, 2020. "Blockchain and the evolution of institutional technologies: Implications for innovation policy," Research Policy, Elsevier, vol. 49(1).

    More about this item

    Keywords

    delay differential equation; innovation diffusion; global stability;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ufg:qdsems:18-2008. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Luca Grilli (email available below). General contact details of provider: https://edirc.repec.org/data/emsfoit.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.