Diffusion and Competition of Innovative Cardiological Technologies

Thomas Grebel and Tom Wilfer ()

No 2007-091, Jena Economics Research Papers from Friedrich-Schiller-University Jena

Abstract: The paper aims to investigate the diffusion process of two competing innovative technologies in the health care sector. Novelties in cardiovascular surgery will serve as an example. Using a rather simple modeling approach for the ecisions of adopters and suppliers we simulate the evolution of a new market and iscuss the effects network externalities and individual learning unfold in different scenarios. Increasing returns to adoption may lead to situations of technological "lock in".

Keywords: technological change; diffusion processes; competing technologies; adoption decisions; social learning; medical equipment; network externalities. (search for similar items in EconPapers)
JEL-codes: D43 I11 O33 (search for similar items in EconPapers)
Date: 2007-11-21
New Economics Papers: this item is included in nep-com, nep-ino and nep-net
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Persistent link: https://EconPapers.repec.org/RePEc:jrp:jrpwrp:2007-091

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