Innovation diffusion and dynamics
Innovation is a vital driver for economic and technological advance. Innovation dynamics define the evolution of an innovative concept. This project provides an insight to these procedures through various simulations.
The first focus of the project is to provide a model of the European space market with the European Space Agency being the central actor. The market consists of combined innovators, imitators, sellers and buyers. Innovation is modeled as a dynamic vector . Different innovation strategies and the relations between the cost, the risk and the payoff of innovation are examined.
The project also focuses on the relation between topology in a network and innovation. Innovation is an interactive process and in order for it to payoff, has to be diffused. The goal is to define the importance of the position in a network for an innovator (e.g. small world networks) with respect to the quality of the innovative concept.