The diffusion of a new product, the price of which is expected to fall progressively, is modelled as a sequence of Wars of Attrition. The likely pattern of diffusion is found to be reasonably consistent with the empirically observed S-shape.
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Korea Adv Inst Sci & Technol, Grad Sch Future Strategy, Daejeon 34141, South KoreaKorea Adv Inst Sci & Technol, Grad Sch Future Strategy, Daejeon 34141, South Korea
Chung, Chongwook
Lee, Jungwoo
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Korea Inst Energy Technol Evaluat & Planning, Technol Policy Planning Div, Seoul 06175, South KoreaKorea Adv Inst Sci & Technol, Grad Sch Future Strategy, Daejeon 34141, South Korea
Lee, Jungwoo
Yang, Jae-Suk
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Korea Adv Inst Sci & Technol, Grad Sch Future Strategy, Daejeon 34141, South KoreaKorea Adv Inst Sci & Technol, Grad Sch Future Strategy, Daejeon 34141, South Korea