The diffusion of new technology in the U.S. petroleum refining industry

Abstract The diffusion of new technology is described by a simple mathematical model. The parameters of the model are shown to be related to the technological background and to the prevailing market conditions of the population of industrial firms into which diffusion occurs. The results of a comprehensive case study of the diffusion of new technology into the U.S. petroleum refining industry based upon the model presented in the article are reported.