An Optimal Control Model for the Diffusion of Innovation

Markowich, P. (1980). An Optimal Control Model for the Diffusion of Innovation. IIASA Working Paper. IIASA, Laxenburg, Austria: WP-80-108

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Abstract

The diffusion of technology has been modeled using different modeling techniques, and these models should fulfill different needs. For example, there are spatial models, models describing the technological side or the consumer side, and so on. On the other hand there are many models which just describe the process but few really give advice for necessary regulations or outside influence. Therefore, I have set up a model called DIFFOPT, which should describe the production aspect and the societal aspect of the diffusion process, and should also give explicit advice for investment and price policy of innovative technologies.

This paper deals with the development of DIFFOPT which has the structure of an optimal control model, and with the mathematical description. Moreover the descriptive model which is basic for the optimal control model is tested computationally.

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