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Compensating for Information Externalities in Technology Diffusion Models

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  • Allan Shampine

Abstract

The role of information in the adoption of new technologies is discussed, focusing on the role of information externalities when nonadopters observe adopters in order to gather information. A Bayesian model of aggregate adoption is derived and the social planner's relationship to the model is discussed. The fact that the information externality is uncompensated suggests that too little adoption may occur. The social planner's problem is solved numerically, demonstrating rapid learning on the part of adopters and a limited ability for the social planner to compensate for the information externality. Copyright 1998, Oxford University Press.

Suggested Citation

  • Allan Shampine, 1998. "Compensating for Information Externalities in Technology Diffusion Models," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(2), pages 337-346.
    • Handle: RePEc:oup:ajagec:v:80:y:1998:i:2:p:337-346
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    Cited by:

    1. Simtowe, Franklin & Asfaw, Solomon & Diagne, Aliou & Shiferaw, Bekele A., 2010. "Determinants of Agricultural Technology adoption: the case of improved groundnut varieties in Malawi," 2010 AAAE Third Conference/AEASA 48th Conference, September 19-23, 2010, Cape Town, South Africa 95921, African Association of Agricultural Economists (AAAE).
    2. Dalton, Timothy J., 2004. "A household hedonic model of rice traits: economic values from farmers in West Africa," Agricultural Economics, Blackwell, vol. 31(2-3), pages 149-159, December.
    3. Baerenklau, Kenneth A., 2004. "Simulating the Effects of a Green Payment Program on the Diffusion Rate of a Conservation Technology," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 33(1), pages 1-17, April.
    4. Jinxia Wang & Henning Bjornlund & K. K. Klein & Lijuan Zhang & Wencui Zhang, 2016. "Factors that Influence the Rate and Intensity of Adoption of Improved Irrigation Technologies in Alberta, Canada," Water Economics and Policy (WEP), World Scientific Publishing Co. Pte. Ltd., vol. 2(03), pages 1-32, September.
    5. Jinhua Zhao, 2005. "The Role of Information in Technology Adoption under Poverty," WIDER Working Paper Series RP2005-41, World Institute for Development Economic Research (UNU-WIDER).
    6. Langyintuo, Augustine S. & Mekuria, Mulugetta, 2005. "Accounting for Neighborhood Influence in Estimating Factors Determining the Adoption of Improved Agricultural Technologies," 2005 Annual meeting, July 24-27, Providence, RI 19521, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Sarah Wheeler & Henning Bjornlund & Martin Shanahan & Alec Zuo, 2009. "Who trades water allocations? Evidence of the characteristics of early adopters in the Goulburn–Murray Irrigation District, Australia 1998–1999*," Agricultural Economics, International Association of Agricultural Economists, vol. 40(6), pages 631-643, November.
    8. Nguyen, V.H. & Llewellyn, Rick S. & Miyan, M.S., 2007. "Explaining adoption of durum wheat in Western Australia," Australasian Agribusiness Review, University of Melbourne, Department of Agriculture and Food Systems, vol. 15.
    9. Acheampong, Patricia Pinamang & Acheampong, Lawrencia Donkor, 2020. "Analysis of Adoption of Improved Cassava (Manihot Esculenta) Varieties in Ghana: Implications for Agricultural Technology Disseminations," International Journal of Food and Agricultural Economics (IJFAEC), Alanya Alaaddin Keykubat University, Department of Economics and Finance, vol. 8(3), July.

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