Tema 5 Diffusion of Innovation

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Questions and Answers

What is a potential negative impact of lead users in the diffusion of innovation?

They can contribute to herd behavior in adoption. (correct)
They increase innovation benefits.
They facilitate wider market reach.
They encourage diverse adoption patterns.

Which of the following best describes the concept of path-dependence in the diffusion of innovations?

The adoption of innovations can be influenced by historical choices and developments. (correct)
Society changes independently of technological advancement.
New technologies are always superior to previous inventions.
Innovations chosen are based entirely on current societal needs.

What factor is NOT mentioned as essential for innovations to occur?

Willingness to adopt new technologies.
Public awareness campaigns. (correct)
Promotion by elite influencers.
Creation of a market niche.

What might the presence of powerful elites in technology diffusion lead to?

Market concentration and potential monopolies. (C) Signup and view all the answers

How does 'herd behavior' affect the diffusion of innovation?

It can lead to the selection of inferior innovations. (B) Signup and view all the answers

What does the term 'information cascades' refer to in the context of innovation diffusion?

The sequential adoption of an innovation based on the observed actions of others. (C) Signup and view all the answers

Flashcards

Diffusion of Innovation

The process by which a new idea, product, or practice spreads through a society.

Innovation Gap

The gap between what we know and what we use.

Lead Users

People who are early adopters of a new innovation and influence others to follow.

Information Cascades

The tendency for people to adopt an innovation based on the choices of others, even if they don't fully understand the innovation.

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Market Concentration

When one company becomes dominant in the market, limiting options for consumers.

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Path Dependence

The idea that past events and choices influence future decisions, making it difficult to change course.

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Study Notes

Diffusion of Innovation

Understanding the gap between known inventions and their adoption is crucial.
Diffusion is the process of communicating innovations within a society (Rogers, 1962).
Factors influencing diffusion include perceptions, benefits, and simplicity, in addition to the innovation's intrinsic quality.
Lead users (role models) are important for driving diffusion, but can also lead to negative outcomes.

Negative Impacts of Lead Users

Information cascades can create "herd behavior" leading to the adoption of a specific variant.
Network effects can cause excessive market concentration (monopolies).
The diffusion process has historical context, leading to path-dependence, and "lock-in" effects.
Powerful elites may influence technology diffusion, potentially at the expense of wider societal interests (Acemoglu, Johnson, 2023).

Essential Factors

Establishing a market niche is essential for innovation adoption.

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Description

Test your knowledge on the diffusion of innovations and the impact of lead users. This quiz covers key concepts, factors influencing adoption, and the potential negative effects of influential users in the innovation process. Explore how historical context and market niches play a role in technology diffusion.