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Diffusion and Competition of Innovative Cardiological Technologies

Author

Listed:
  • Thomas Grebel

    (Friedrich-Schiller-University Jena, Department of Economics)

  • Tom Wilfer

    (Friedrich-Schiller-University Jena, Department of Economics)

Abstract

The paper aims to investigate the diffusion process of two competing innovative technologies in the health care sector. Novelties in cardiovascular surgery will serve as an example. Using a rather simple modeling approach for the ecisions of adopters and suppliers we simulate the evolution of a new market and iscuss the effects network externalities and individual learning unfold in different scenarios. Increasing returns to adoption may lead to situations of technological "lock in".

Suggested Citation

  • Thomas Grebel & Tom Wilfer, 2007. "Diffusion and Competition of Innovative Cardiological Technologies," Jena Economics Research Papers 2007-091, Friedrich-Schiller-University Jena.
    • Handle: RePEc:jrp:jrpwrp:2007-091
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    File URL: https://oweb.b67.uni-jena.de/Papers/jerp2007/wp_2007_091.pdf
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    More about this item

    Keywords

    technological change; diffusion processes; competing technologies; adoption decisions; social learning; medical equipment; network externalities.;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection

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