Diffusion and Competition of Innovative Cardiological Technologies
AbstractThe 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".
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Bibliographic InfoPaper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2007-091.
Date of creation: 21 Nov 2007
Date of revision:
technological change; diffusion processes; competing technologies; adoption decisions; social learning; medical equipment; network externalities.;
Find related papers by JEL classification:
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; 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 and Pricing - - - Oligopoly and Other Forms of Market Imperfection
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-11-24 (All new papers)
- NEP-COM-2007-11-24 (Industrial Competition)
- NEP-INO-2007-11-24 (Innovation)
- NEP-NET-2007-11-24 (Network Economics)
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