Awareness, persuasion, and adoption: Enriching the Bass model

In the context of diffusion of innovations, we propose a probabilistic model based on interacting populations connected through new communication channels. The potential adopters are heterogeneous in the connectivity levels and in their taste for innovation. The proposed framework can model the different stages of the adoption dynamics. In particular, the adoption curve is the result of a micro-founded decision process following the awareness phase. Eventually, we recover stylized facts pointed out by the extant literature in the field, such as delayed adoptions and non-monotonic adoption curves.