Rank, Stock, Order And Epidemic Effects In The Diffusion Of New Process Technologies : An Empirical Model
In this paper we set up a general duration model of technology adoption which incorporates the main factors discussed in the different side theories if diffusion of new process technologies. The model is applied to the data on diffusion of CNC in the UK engineering industry. It is found that while there is strong evidence for the rank and endogenous learning effects, there seems to be little evidence in the support of the stock and order effects, as characterized by the game theoretic models.
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- Timothy H. Hannan & John M. McDowell, 1984. "The Determinants of Technology Adoption: The Case of the Banking Firm," RAND Journal of Economics, The RAND Corporation, vol. 15(3), pages 328-335, Autumn.
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- Drew Fudenberg & Jean Tirole, 1985. "Preemption and Rent Equalization in the Adoption of New Technology," Review of Economic Studies, Oxford University Press, vol. 52(3), pages 383-401.
- Cohen, Wesley M & Levinthal, Daniel A, 1989. "Innovation and Learning: The Two Faces of R&D," Economic Journal, Royal Economic Society, vol. 99(397), pages 569-596, September.
- Hannan, Timothy H & McDowell, John M, 1987. "Rival Precedence and the Dynamics of Technology Adoption: An Empirical Analysis," Economica, London School of Economics and Political Science, vol. 54(214), pages 155-171, May. Full references (including those not matched with items on IDEAS)
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