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Market Introduction And Diffusion Of New Products: Recent Developments In Agent-Based Modeling

Author

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  • LEA M. WAKOLBINGER

    (Faculty of Business, Economics and Statistics, University of Vienna, Brünner Str. 72, Vienna 1210, Austria)

  • CHRISTIAN STUMMER

    (Department of Business Administration and Economics, Bielefeld University, Universitätsstr. 25, Bielefeld 33615, Germany)

  • MARKUS GÜNTHER

    (Department of Business Administration and Economics, Bielefeld University, Universitätsstr. 25, Bielefeld 33615, Germany)

Abstract

Market introduction and diffusion of new products is complex and multifaceted since it involves spatially dispersed customers with individual preferences who may be exposed to a wide range of influences including word-of-mouth communication within a social network. During the past decade agent-based modeling approaches for simulating this process have become increasingly popular, because they not only capture the customers' behavior more realistically, but also allow for new insights for innovation management. The aim of this work is to provide an overview of recent developments, to discuss challenges, and to highlight promising directions for future research.

Suggested Citation

  • Lea M. Wakolbinger & Christian Stummer & Markus Günther, 2013. "Market Introduction And Diffusion Of New Products: Recent Developments In Agent-Based Modeling," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 10(05), pages 1-19.
    • Handle: RePEc:wsi:ijitmx:v:10:y:2013:i:05:n:s0219877013400154
    DOI: 10.1142/S0219877013400154
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    References listed on IDEAS

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    1. Héctor Hernández & Alexander Tuebke & Fernando Hervás & Michele Cincera, 2010. "The 2010 EU Industrial R&D Investment Scoreboard," ULB Institutional Repository 2013/147151, ULB -- Universite Libre de Bruxelles.
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    Cited by:

    1. Christian Stummer & Lars Lüpke & Markus Günther, 2021. "Beaming market simulation to the future by combining agent-based modeling with scenario analysis," Journal of Business Economics, Springer, vol. 91(9), pages 1469-1497, November.
    2. Herbert Dawid & Reinhold Decker & Thomas Hermann & Hermann Jahnke & Wilhelm Klat & Rolf König & Christian Stummer, 2017. "Management science in the era of smart consumer products: challenges and research perspectives," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 25(1), pages 203-230, March.
    3. Martin Zsifkovits & Markus Günther, 2015. "Simulating resistances in innovation diffusion over multiple generations: an agent-based approach for fuel-cell vehicles," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 23(2), pages 501-522, June.
    4. Friederike Wall, 2016. "Agent-based modeling in managerial science: an illustrative survey and study," Review of Managerial Science, Springer, vol. 10(1), pages 135-193, January.

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