Technological Diffusion with Social Learning Export

@article{Kapur:1995, abstract = {This paper attributes the slow diffusion of innovations to an informational externality in the adoption process. The profitability of new technologies is uncertain but firms can learn progressively through observing the adoption experience of others. Given this prospect of social learning, every firm would prefer that other firms adopt before it does. In the absence of explicit coordination, the firms could end up in a sequence of waiting contests. This results in staggered adoptions even when all firms are ex-ante identical. The pace of diffusion is determined endogenously, and shown to depend on the characteristics of the innovation.}, author = {Kapur, Sandeep}, citeulike-article-id = {5943784}, citeulike-linkout-0 = {http://dx.doi.org/10.2307/2950480}, citeulike-linkout-1 = {http://www.jstor.org/stable/2950480}, doi = {10.2307/2950480}, issn = {00221821}, journal = {The Journal of Industrial Economics}, keywords = {diffusion, economics, social\_learning}, number = {2}, pages = {173--195}, posted-at = {2009-10-15 13:21:28}, priority = {2}, publisher = {Blackwell Publishing}, title = {Technological Diffusion with Social Learning}, url = {http://dx.doi.org/10.2307/2950480}, volume = {43}, year = {1995} }

TY - JOUR ID - Kapur:1995 L3 - citeulike-article-id:5943784 N2 - This paper attributes the slow diffusion of innovations to an informational externality in the adoption process. The profitability of new technologies is uncertain but firms can learn progressively through observing the adoption experience of others. Given this prospect of social learning, every firm would prefer that other firms adopt before it does. In the absence of explicit coordination, the firms could end up in a sequence of waiting contests. This results in staggered adoptions even when all firms are ex-ante identical. The pace of diffusion is determined endogenously, and shown to depend on the characteristics of the innovation. IS - 2 JF - The Journal of Industrial Economics SN - 00221821 EP - 195 TI - Technological Diffusion with Social Learning PB - Blackwell Publishing VL - 43 SP - 173 KW - diffusion KW - economics KW - social_learning AU - Kapur, Sandeep PY - 1995/// UR - http://dx.doi.org/10.2307/2950480 ER -