A punctuated-equilibrium model of technology diffusion
Article Abstract:
A model was developed to explain the concept of punctuated technology diffusion, which refers to a pattern of technology diffusion where long periods of incremental improvements are disturbed by short bursts of radical innovation. This evolutionary model looks at the adoption of either an old or a new technology, both of which enhance their performance on an incremental basis over time. It posits that punctuated equilibrium may emerge among boundedly rational adopters who select the better-performing technology at any time despite their imperfect capability for evaluation. In this formulation, punctuations or sudden shifts in equilibria can occur if both positive externalities and uncertainty in the assessment of a new technology exist in the system. The outcome are transitions between the equilibrium where the old technology is the standard and the equilibrium where the new technology is the standard.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1999
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General economic equilibrium as a unifying concept in energy-economic modeling
Article Abstract:
The concept of general economic equilibrium provides a context for understanding four ostensibly different approaches to large scale modeling: variable-coefficient input-output theory, process network methodology, linear programming, and general nonlinear optimization. Four increasingly complex examples of the implementation of the simple model of general economic equilibrium correspond to one of the four energy-economic modeling methodologies, and a complete static model of general economic equilibrium is developed. It is shown how the four approaches are all special cases of the simple model of economic equilibrium, allowing the similarities and differences of the four approaches to be identified.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1985
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A practitioner's approach to modeling
Article Abstract:
A nonprocedural modeling language called PAM is described. The PAM practitioner describes a linear programming matrix by using a set of two-dimensional tables: one representing the matrix's block schematic and the rest supporting data tables. The tables are processed by computer program, producing a linear programming matrix ready for optimization. Block-wise model formulation is described, the relationship of data to model are discussed, and an overview of PAM's matrix generation language is offered.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1987
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