Innovation in any field is mandatory to keep the systems on right track. Economists and other social scientists have attempted to understand the process of technology diffusion from time to time. In the present study, various models have been discussed thoroughly which contribute to identify the individual's as well as technology characteristics which further lead to the adoption and rejection of innovation. Several aspects explained by these models like time taken to accept the technology, demographic as well socio-economic characteristics of adopters, role of communication and rate of adoption has been elaborated which played a crucial role in the adoption and diffusion process of innovation. The Research and practical implications of these models have also been discussed.
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