New Product Introduction and Market Evolution
We solve for an S-shaped schedule for market size for a new product that undergoes gradual widespread adoption. We hypothesize that the speed of market expansion is positively related to the current proÂ…t per unit being produced. In a mature market the unit profit is relatively low.
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- Bianchi, Marina, 2002. "Novelty, preferences, and fashion: when goods are unsettling," Journal of Economic Behavior & Organization, Elsevier, vol. 47(1), pages 1-18, January.
- Silvia Bertarelli & Roberto Censolo, 2006. "Taste For Variety, Taste For Novelty And Price Behaviour," Metroeconomica, Wiley Blackwell, vol. 57(1), pages 93-111, 02.
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