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The Adoption and Adaptation of Externally Originated Ideas

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Abstract

This is a model of technology adoption that takes seriosly the fact that new inventions are specific to the enviromment in which they emerge. The key feature of the model is that the firm can invest resources in R&D to adapt externally originated ideas to the environment in which they are used. We show that because of the possibliity of investing in R&D, differences between the inventor's and user's environments can explain why some firms invest in old techniques. We also find that investment lags do not necessarily capture firm-specific effects even if adoption costs are convex.

Suggested Citation

  • Fidel Perez Sebastian, 1998. "The Adoption and Adaptation of Externally Originated Ideas," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 9803, Departamento de Economía - Universidad Pública de Navarra.
    • Handle: RePEc:nav:ecupna:9803
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    JEL classification:

    • D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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