The Use of Semantic Differential Scales in Studying The Innovation Boundary

Abstract

The article presents three models which attempt to predict when individuals will try something new. A decision making situation may be modeled by a choice situation in which an individual has a dichotomous deterministic choice. The stochastic model is looked at, in which individuals are asked for their best estimate of their target level of performance, including the costs and rewards associated with it. The author treats the decision of whether or not to adopt an innovative strategy as a stochastic variable representing the probability of innovation.