A multi-level explanation of the process of innovation

This research models the process of innovation with an iterative multi-method model made up of a system dynamic (SD) model and an agent-based model (ABM). This method is a tested and validated modeling process for the study of dynamic processes that take place during disequilibrium (Ross and Westgren, 2006). The SD model is used to model the market system. The model illustrates the impact the legitimacy of product attributes has on market price and capital invested level during innovation. The ABM models the decision-making processes internal to the firm to adopt technology under the entrepreneur's perceptions of technical and market uncertainty. With the integration of the SD and ABM models I make explicit the relationship between a producer's evaluation of their uncertain environment and the consumer's evaluation of product attributes during the process of innovation. This formal model is influenced and informed by a case study of the current controlled environment agriculture industry

Name thesis:degree_name

Ph. D.

Level thesis:degree_level

Doctoral

Discipline thesis:degree_discipline

Agricultural and Applied Economics (MU)

Grantor dc:publisher

University of Missouri--Columbia

Year dc:date.issued

2022

Author dc:creator

• McGowan, Lucy

Advisor dc:contributor.advisor

• Westgren, Randall

Language dc:language.iso

eng, English

DOI

https://doi.org/10.32469/10355/94079

OAI identifier oai:identifier

oai:mospace.umsystem.edu:10355/94079