Abstract

We propose a mathematical model with time delay (evaluation period), in deciding the adoption of an innovation, using a set of two differential equations describing the rate of change of adopter and non-adopter population with respect to time. The growth of adopters is affected by the external as well as internal factors. Model is studied for Stability and Hopf-bifurcation analysis taking evaluation period as a control parameter. Further, the role of carrying capacity on the evaluation period is studied numerically and is validated through Matlab programs.

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