Dynamic modeling of competing technology designs, pricing and consumer dynamics

Abstract

The modeling of technology succession and new technology adoption includes a wide array of techniques from complexity theory. In our previous work, we applied the results of the Windrum-Birchenhall model to technology policy and technology development strategies. However, as we began to explore the Windrum-Birchenhall simulation we discovered significant limitations in their model and felt that a new model was needed which could accommodate simultaneous macro and micro-level events in order effectively simulate market volatilities. The following paper discusses the architecture of the new model of technological succession developed at the Southern New Hampshire University International Business Modeling Laboratory and explains results from early simulation runs. We continue to develop this model and expect to have additional applications and simulation results as our research progresses.