Choosing among diffusion models: Some empirical evidence

Is there a ‘best’ diffusion model? How many and which parameters will adequately represent the long-run diffusion process? Two studies using first purchase data for nineteen durable goods are used to systematically compare twenty-four alternative diffusion models: a meta-analytic study, which pools across categories, and an economic approach, which determines the best fitting model for each category individually. A number of guidelines are produced, which stand to improve the choice of diffusion models in forecasting, theory testing, and normative studies.