We investigate the parameter spaces of hybrid inflation model with special attention paid to the dynamics of waterfall field and curvature perturbations induced from its quantum fluctuations. Depending on the inflaton field value at the time of phase transition and the sharpness of the phase transition inflation can have multiple extended stages. We find that for models with mild phase transition the induced curvature perturbation from the waterfall field is too large to satisfy the COBE

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... zation. We investigate the model parameter space where the curvature perturbations from the waterfall quantum fluctuations vary between the results of standard hybrid inflation and the results obtained here.