haku: @author Jovanovic, B. / yhteensä: 17
viite: 5 / 17
Tekijä: | Jovanovic, B. Stolyarov, D. |
Otsikko: | Optimal adoption of complementary technologies |
Lehti: | American Economic Review
2000 : MAR, VOL. 90:1, p. 15-29 |
Asiasana: | ECONOMICS TECHNOLOGY USA |
Kieli: | eng |
Tiivistelmä: | When a production process requires two extremely complementary inputs, conventional wisdom holds that a firm would always upgrade them simultaneously. The authors show, however, that if upgrading each input involves a fixed cost, the firm may upgrade them at different dates, 'asynchronously'. This insight helps understand why productivity rises with the age of a plant, why investment in structures is more spiked than equipment investment, and why plants have spare capacity. |
SCIMA