Gaussian and hyperbolic angle‐of‐arrival probability density functions are used to derive channel capacity of orthogonal frequency division multiplexing transmission employing diversity techniques and adaptive policies in cellular wireless fading environments. The intercarrier interference (ICI) power is quantified and given as a function of Doppler shift fd, symbol duration Ts, frequency correction ζ and propagation ratio τ. Two scattering distributions, which have been shown to closely fit experimental empirical data, are examined in this paper: (i) Gaussian and (ii) hyperbolic. A new signal‐to‐interference‐and‐noise ratio probability density function is derived as a function of the ICI power using diversity techniques and adaptive policies. From that, effects of fdTs, ζ and τ on channel capacity can be discussed. The main contribution of this work is to model ICI as a function of fd and symbol duration Ts. Two diversity techniques are considered: (i) maximal ratio combining and (ii) selective combining. Three adaptive policies are studied: (i) optimal rate adaptation, (ii) optimal rate and power adaptation and (iii) channel inversion with fixed rate. Closed‐form expressions and bounds on various channel capacity with orthogonal frequency division multiplexing transmission under different scenarios are derived. Copyright © 2012 John Wiley & Sons, Ltd.