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Toward an Understanding of Technology Adoption: Risk, Learning, and Neighborhood Effects

  • Kenneth A. Baerenklau
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    Agricultural pollution frequently is addressed through economic incentives for adopting alternative management practices. Designing efficient incentives requires understanding technology adoption behavior. This study estimates an adoption model incorporating risk preferences, endogenous learning, and peer-group influence to examine the importance of these behavioral drivers. Results suggest risk preferences and learning are key determinants, and that peer-group influence is less relevant. Thus the impact of a policy may depend more on the ability of the incentive to compensate producers for anticipated losses, and the extent to which information is shared, rather than on the “bandwagon” effect produced by early adopters or targeted incentives.

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    Article provided by University of Wisconsin Press in its journal Land Economics.

    Volume (Year): 81 (2005)
    Issue (Month): 1 ()

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    Handle: RePEc:uwp:landec:v:81:y:2005:i:1:p1-19
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    1. Mark Rosenzweig & Andrew D. Foster, . "Learning by Doing and Learning from Others: Human Capital and Technical Change in Agriculture," Home Pages _068, University of Pennsylvania.
    2. Kaplan, Jonathan D. & Howitt, Richard E. & Farzin, Y. Hossein, 2003. "An information-theoretical analysis of budget-constrained nonpoint source pollution control," Journal of Environmental Economics and Management, Elsevier, vol. 46(1), pages 106-130, July.
    3. Jensen, Richard, 1982. "Adoption and diffusion of an innovation of uncertain profitability," Journal of Economic Theory, Elsevier, vol. 27(1), pages 182-193, June.
    4. Banerjee, Abhijit V, 1992. "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, MIT Press, vol. 107(3), pages 797-817, August.
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