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| Author: | Kapur, S. |
| Title: | Technological diffusion with social learning |
| Journal: | Journal of Industrial Economics
1995 : JUN, VOL. 43:2, p. 173-195 |
| Index terms: | INDUSTRIAL ECONOMICS LEARNING DIFFUSION |
| Language: | eng |
| Abstract: | This paper attributes the slow diffusion of innovations to an informational externality in the adoption process. The profitability of new technologies is uncertain but firms can learn progressively through observing the adoption experience of others. Given this prospect of social learning, every firm would prefer that other firms adopt before it does. In the absence of explicit coordination, the firms could end up in a sequence of waiting contests. |
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