How information and communication technology affects decision-making on innovation diffusion: An agent-based modelling approach

Authored by Carlos M Fernandez-Marquez, Francisco J Vazquez

Date Published: 2018

DOI: 10.1002/isaf.1430

Sponsors: No sponsors listed

Platforms: Repast

Model Documentation: Other Narrative Pseudocode

Model Code URLs: Model code not found

Abstract

We introduce a computational agent-based model of innovation diffusion that allows us to analyse the influence of information and communication technology (ICT) development on decision-making. Model dynamics are based on local emulation between pairs of individuals that generate an evolving social network on which an innovation is virally spread (by word of mouth). Results suggest that ICT development affects the data usefulness for decision-making by changing the topology of the social network (the means whereby the innovation is propagated). Paradoxically, a higher level of ICT development (providing a larger volume of data) narrows the differences between better and worse launch strategies, thus reducing data-driven decision-making usefulness, which then shows diminishing returns on the ICT level.

Tags

Agent-based model Decision-Making Innovation diffusion Ict development