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http://dx.doi.org/10.7737/JKORMS.2012.37.2.113

Comparison of the Bass Model and the Logistic Model from the Point of the Diffusion Theory  

Hong, Jung-Sik (서울과학기술대학교 IT정책전문대학원 산업정보시스템전공)
Koo, Hoon-Young (충남대학교 경상대학 경영학부)
Publication Information
Journal of the Korean Operations Research and Management Science Society / v.37, no.2, 2012 , pp. 113-125 More about this Journal
Abstract
The logistic model and the Bass model have diverse names and formulae in diffusion theory. This diversity makes users or readers confused while it also contributes to the flexibility of modeling. The method of handling the integration constant, which is generated in process of deriving the closed form solution of the differential equation for a diffusion model, results in two different 'actual' models. We rename the actual four models and propose the usage of the models with respect to the purpose of model applications. The application purpose would be the explanation of historical diffusion pattern or the forecasting of future demand. Empirical validation with 86 historical diffusion data shows that misuse of the models can draw improper conclusions for the explanation of historical diffusion pattern.
Keywords
Diffusion Theory; Bass Model; Logistic Model;
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