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| Author: | Chen, M-Y. |
| Title: | Technology adoption in response to changes in market conditions: evidence from the US petroleum refining industry |
| Journal: | Economics of innovation and new technology
2005 : NOV, VOL. 14:8, p. 735-756 |
| Index terms: | market conditions petroleum industry technology |
| Language: | eng |
| Abstract: | The article analyzes the determinants of the levels and rates of technology adoption for petroleum refineries that survived the period 1980-1989, during which the conditions of product demand and crude oil supply changed significantly. Regression models are specified to investigate the growth of technology-related capacity, the growth of technology complexity, and the rates of adoption estimated from a diffuse model of technology use. Both levels and rates of adoption are hypothesized to be affected by refinery size, regulatory status, elements of local markets, and geographical factors. |
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