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The Diffusion of Multiple Process Technologies

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  • Stoneman, Paul
  • Kwon, Myung-Joong

Abstract

The objective of this paper is to analyze the simultaneous diffusion of multiple process technologies. A theoretical model of the diffusion of a new process technology is developed that takes account of the existence of another new technology that is being simultaneously diffused. The implications of the multitechnology environment for the diffusion paths of the two technologies are explored. The model is then used to explore empirically the joint diffusion of numerically controlled machine tools and coated carbide tools in the United Kingdom. Copyright 1994 by Royal Economic Society.

Suggested Citation

  • Stoneman, Paul & Kwon, Myung-Joong, 1994. "The Diffusion of Multiple Process Technologies," Economic Journal, Royal Economic Society, vol. 104(423), pages 420-431, March.
  • Handle: RePEc:ecj:econjl:v:104:y:1994:i:423:p:420-31
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