Innovation diffusion mechanisms: characteristics and modeling methods

Innovations and investments

The article discusses innovation diffusion mechanisms, problem and probabilities of its modeling, mathematical approaches currently used for modeling. It is suggested to regard and model innovation diffusion depending on its life cycle stage. For choosing mathematical instruments in purpose of modeling innovation diffusion it is suggested to regard the influence of knowledge expansion that conducts the diffusion of innovation (information component). It is seen as a key factor influencing the diffusion of innovation especially in the beginning of its life cycle.