Induction cooking is very different from other methods such as natural gas and electric. You need special cookware for induction stovetop use rather that being able to use any pot or pan on the market.
Because induction actually causes the pots and pans themselves to heat up using electro-magnetic fields, the cookware must be reactive to the electromagnetic field. There are certain metals which are affected by the field, iron being one of them.
Some Cooking Vessels will not Work
Some of the cooking vessels which won’t work with an induction stove are aluminum, glass and copper coated varieties. Some stainless steel will work but it depends on the presence of iron. As a general rule of thumb, if a magnet will stick to the bottom of the pan, the cook ware will work with induction stoves. If the magnet seems to stick very weakly, there may not be enough ferrous material to properly heat up and it is best to find one with a strong magnetic pull.
Cast iron and ceramic coated cast iron works very well. The only disadvantage to these types of cookware is the time it takes for the pots and pans to change temperature (ie-cool down). Because induction cookware is valued for how quickly it can change temperatures, you lose some of the effectiveness of the technology with these types of pans.
Specialty Cookware
Some cookware sets are available which have been specially designed for induction cooking. If you need to purchase new pots and pans anyways, these are a good bet. If you want to buy conventional types, take a magnet along with you to perform the test.
Before you throw out your conventional cookware, test the bottom with a magnet. They may work equally well with in induction unit as your electric or gas stove.
Cost
On average induction cook ware may cost a little more, but the vessels are generally of a high quality. Just like in traditional cookware sets, you can find different levels of quality. You generally get what you pay for in terms of quality. Many pieces are affordable and sets can range from around $150 and up.