Innovations, improvements, and the optimal adoption of new technologies

نویسنده

  • Ulrich Doraszelski
چکیده

This paper extends the literature on technology adoption by introducing a distinction between technological breakthroughs (‘innovations’) and the engineering re/nements (‘improvements’) that follow such a breakthrough. Firms do not necessarily wait for a future technological breakthrough, but instead have an incentive to delay the adoption of a new technology until it is su2ciently advanced. We characterize a /rm’s adoption decision as the solution to a continuous time, in/nite horizon dynamic programming problem, which gives rise to an ordinary di4erential equation that is highly non-linear and does not have a closed-form solution. We thus employ projection techniques and show how these techniques can be applied to the analysis of optimal stopping problems. ? 2003 Elsevier B.V. All rights reserved. JEL classi"cation: D81; D92; O33

برای دانلود رایگان متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Socio-Economic Factors Influencing Adoption of Energy–Saving Technologies among Smallholder Farmers: The Case of West Pokot County, Kenya

Fuel wood provides the main source of energy for cooking and space heating for over 80 percent of households living in Kenya. The heavy reliance on the biomass energy has exerted an imbalance in demand and supply consequently resulting in adverse environmental effects in Kenya. As part of innovation efforts, several energy-conserving technologies have been developed. A unique cook stove named M...

متن کامل

Assessment of Adoption of Improved Fish Pond Management Technologies Among Fish Growers in Benue State, Nigeria

The study assessed adoption of improved fish pond management technologies among fish growers in Benue State, Nigeria. Stratified, purposive and simple random sampling techniques were used in selecting 221 respondents. Primary data were collected using structured questionnaire. Data collected were analysed using both descriptive such as frequency distribution tables and inferential statistics su...

متن کامل

Assessment of the Adoption Rate of Technologies among Fadama III Farmers in Adamawa State, Nigeria

The study was conducted in Adamawa State, Nigeria. The major thrust of this study is to assess the adoption rate of technology in Fadama III project, Adamawa State, Nigeria. Fadama III is being implemented in 20 Local Government Areas (LGA) of Adamawa State. In its four years of operation, Fadama III project has realized significant impact on household access to new and proven technologies. The...

متن کامل

Technology clusters: Using multidimensional scaling to evaluate and structure technology clusters

related products that form a technology cluster is significantly better than the attributes of an innovation at predicting adoption. The treatment of technology clusters , however, has been ad hoc and study specific: Researchers often make a priori assumptions about the relationships between technologies and measure ownership using lists of functionally related technology, without any systemati...

متن کامل

Perceptions of Constraints Affecting Adoption of Women-in-Agriculture Programme Technologies in the Niger Delta, Nigeria

The study focused on constraints affecting the adoption of innovative agricultural technologies disseminated by the Women-in-Agriculture (WIA) unit of the Akwa Ibom Agricultural Development Programme (AKADEP) to its women clientele. The study also ascertained the awareness and adoption levels of such introduced technologies. Findings revealed that respondents were aware of 61.9% of introduced t...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

عنوان ژورنال:

دوره   شماره 

صفحات  -

تاریخ انتشار 2003