Learning-by-Doing and the Choice of Technology: The Role of Patience
AbstractIf agents learn-by-doing and are myopic, less advanced firms might adopt new technologies while more advanced ÃÂ¿rms stick with the old technology. This kind of overtaking can also occur if agents are forward looking and have high discount rates. However, overtaking never occurs if agents are sufficiently patient. A finite discount rate increases the set of states at which agents adopt new technologies, so more patient agents tend to upgrade their technology more frequently.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 100 (2001)
Issue (Month): 1 (September)
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/622869
Other versions of this item:
- Karp, Larry & Lee, In Ho, 2000. "Learning-by-Doing and the Choice of Technology: the Role of Patience," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt4vh9x271, Department of Agricultural & Resource Economics, UC Berkeley.
- Karp, L. & Lee, I.H., 1998. "Learning-by-doing and the choice of technology: the role of patience," Discussion Paper Series In Economics And Econometrics 9810, Economics Division, School of Social Sciences, University of Southampton.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nancy L Stokey, 1986.
"Learning-by-Doing and the Introduction of New Goods,"
699, Northwestern University, Center for Mathematical Studies in Economics and Management Science, revised May 1987.
- Stokey, Nancy L, 1988. "Learning by Doing and the Introduction of New Goods," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 701-17, August.
- Robert J. Barro, 2012.
"Inflation and Economic Growth,"
CEMA Working Papers
568, China Economics and Management Academy, Central University of Finance and Economics.
- Cabrales, Antonio & Motta, Massimo & Thisse, Jacques-François, 1995.
"On the Persistence of Leadership or Leapfrogging in International Trade,"
CEPR Discussion Papers
1106, C.E.P.R. Discussion Papers.
- Motta, Massimo & Thisse, Jacques-Francois & Cabrales, Antonio, 1997. "On the Persistence of Leadership or Leapfrogging in International Trade," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(4), pages 809-24, November.
- Motta, M. & Thisse, J.-F. & Cabrales, A., . "On the persistence of leadership or leapfrogging in international trade," CORE Discussion Papers RP -1287, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Massimo MOTTA & Jean-François THISSE & Antonio CABRALES, 1996. "On the Persistence of Leadership or Leapfrogging in International Trade," Cahiers de Recherches Economiques du DÃ©partement d'EconomÃ©trie et d'Economie politique (DEEP) 9625, Université de Lausanne, Faculté des HEC, DEEP.
- Brezis, Elise S & Krugman, Paul R & Tsiddon, Daniel, 1993. "Leapfrogging in International Competition: A Theory of Cycles in National Technological Leadership," American Economic Review, American Economic Association, vol. 83(5), pages 1211-19, December.
- Krusell, P. & Rios-Rull, J.V., 1993.
"Vested Interests in a Positive Theory of Stagnation and Growth,"
547, Stockholm - International Economic Studies.
- Krusell, Per & Rios-Rull, Jose-Victor, 1996. "Vested Interests in a Positive Theory of Stagnation and Growth," Review of Economic Studies, Wiley Blackwell, vol. 63(2), pages 301-29, April.
- Robert E Lucas, 1999.
"Making a Miracle,"
Levine's Working Paper Archive
2101, David K. Levine.
- Chari, V V & Hopenhayn, Hugo, 1991. "Vintage Human Capital, Growth, and the Diffusion of New Technology," Journal of Political Economy, University of Chicago Press, vol. 99(6), pages 1142-65, December.
- Jovanovic, Boyan & Nyarko, Yaw, 1996.
"Learning by Doing and the Choice of Technology,"
Econometric Society, vol. 64(6), pages 1299-1310, November.
- Boyan Jovanovic & Yaw Nyarko, 1994. "Learning By Doing and the Choice of Technology," NBER Working Papers 4739, National Bureau of Economic Research, Inc.
- Jovanovic, B. & Nyarko, Y., 1996. "Learning by Doing and the Choice of Technology," Working Papers 96-25, C.V. Starr Center for Applied Economics, New York University.
- Jovanovic, Boyan & Nyarko, Yaw, 1994. "The Bayesian Foundations of Learning by Doing," Working Papers 94-15, C.V. Starr Center for Applied Economics, New York University.
- Parente Stephen L., 1994. "Technology Adoption, Learning-by-Doing, and Economic Growth," Journal of Economic Theory, Elsevier, vol. 63(2), pages 346-369, August.
- Budd, Christopher & Harris, Christopher & Vickers, John, 1993. "A Model of the Evolution of Duopoly: Does the Asymmetry between Firms Tend to Increase or Decrease?," Review of Economic Studies, Wiley Blackwell, vol. 60(3), pages 543-73, July.
- Margherita Scarlato & Marisa Cenci, 2004.
"Istituzioni e mercato del lavoro nel Mezzogiorno d'Italia: un'analisi dinamica,"
GE, Growth, Math methods
- Marisa Cenci & Margherita Scarlato, 2002. "Istituzioni e mercato del lavoro nel Mezzogiorno d’Italia: un’analisi dinamica," Rivista di Politica Economica, SIPI Spa, vol. 92(3), pages 281-320, May-June.
- Hill, William W. & Beatty, Sharon E., 2011. "A model of adolescents' online consumer self-efficacy (OCSE)," Journal of Business Research, Elsevier, vol. 64(10), pages 1025-1033, October.
- Rob Hart, 2009. "Bad Eggs, Learning-by-doing, and the Choice of Technology," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 42(4), pages 429-450, April.
- James G. Mulligan & Nilotpal Das, 2005. "Persistent Adoption of Time-Saving Process Innovations," Working Papers 05-03, University of Delaware, Department of Economics.
- Mateos-Planas, Xavier, 2004.
"Technology adoption with finite horizons,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 28(11), pages 2129-2154, October.
- Mateos-Planas, Xavier, 2000. "Technology adoption with finite horizons," Discussion Paper Series In Economics And Econometrics 0033, Economics Division, School of Social Sciences, University of Southampton.
- Rivas, Javier, 2010. "The effects of the market structure on the adoption of evolving technologies," Journal of Economic Dynamics and Control, Elsevier, vol. 34(12), pages 2485-2493, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If references are entirely missing, you can add them using this form.