Abstract
The logistic model and the Bass model have diverse names and formulae in diffusion theory. This diversity makes users or readers confused while it also contributes to the flexibility of modeling. The method of handling the integration constant, which is generated in process of deriving the closed form solution of the differential equation for a diffusion model, results in two different 'actual' models. We rename the actual four models and propose the usage of the models with respect to the purpose of model applications. The application purpose would be the explanation of historical diffusion pattern or the forecasting of future demand. Empirical validation with 86 historical diffusion data shows that misuse of the models can draw improper conclusions for the explanation of historical diffusion pattern.
| Translated title of the contribution | Comparison of the Bass Model and the Logistic Modelfrom the Point of the Diffusion Theory |
|---|---|
| Original language | Korean |
| Pages (from-to) | 113-125 |
| Number of pages | 13 |
| Journal | 한국경영과학회지 |
| Volume | 37 |
| Issue number | 2 |
| DOIs | |
| State | Published - Jun 2012 |