Stochastic diffusion models for substitutable technological innovations

Baomin Hu*, Lili Wang, Xinkai Yu

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

1 Citation (Web of Science)


Based on the analysis of firms' stochastic adoption behaviour, this paper first points out the necessity to build more practical stochastic models. And then, stochastic evolutionary models are built for substitutable innovation diffusion system. Finally, through the computer simulation of the diffusion models, we can explain the evolutionary characteristics of substitutable technological innovation diffusion and get the corresponding diffusion patterns, which are helpful for firms to adopt an innovation at the optimal occasion, and accelerate the evolution speed of the new technology.

Original languageEnglish
Pages (from-to)654-666
Number of pages13
JournalInternational Journal of Technology Management
Issue number7-8
Publication statusPublished - 2004
Externally publishedYes


  • substitutable technological innovation diffusion
  • firms' stochastic adoption behaviour
  • diffusion pattern
  • stochastic diffusion model
  • computer simulation

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