Adoption of new surgical technology

Adoption of New Technology

The contribution of new technology to economic growth can only be realized when and if the new technology is widely diffused and used. Diffusion itself results from a series of individual decisions to begin using the new technology, decisions which are often the result of a comparison of the uncertain benefits of the new invention with the uncertain costs of adopting it. An understanding of the...

Strategic Technology Adoption under Technological Uncertainty

The Timing of New Technology Adoption: The Case of MRI

This paper studies the adoption of nuclear magnetic resonance imaging (MRI) by US hospitals. I consider a timing game of new technology adoption. The dynamic game allows me to take both timing decisions and strategic interaction into account. The model can be solved using standard dynamic programming techniques. Using a panel data set of US hospitals, cross sectional variation in adoption times...

The Impact of Immigration on New Technology Adoption in U

Technological advancement, learning, and the adoption of new technology

This research focuses attention upon three related issues: the persistence of technological progress over time, multiple adoption decisions over a long horizon, and the impact of production based learning on those decisions. We develop a simple economic model for a single product producing firm incorporating continuous technological progress, linear product demand, linear switching costs, and e...