Diffusion, Selection and Inducement in the Evolution of a Technological Regime

Luke Georghiou, J. Stanley Metcalfe, Michael Gibbons, Tim Ray and Janet Evans

Chapter 4 in Post-Innovation Performance, 1986, pp 70-94 from Palgrave Macmillan

Abstract: Abstract The case-study material in the previous chapter is indicative of the complexity of factors at work shaping the post-innovation development of a technology. Nonetheless, certain general themes can be identified and the purpose of this chapter is to provide a brief outline of the mechanisms at work, to relate them in a systematic way and to provide a guide through the complexities of the innovation process. It is perforce an outline in which detail is sacrificed for perspective and within its bounds weare concerned with two questions: the mechanisms by which new technology is absorbed into the prevailing economic structure and the effects of absorption upon the trajectory of technical development. We shall present the development of a technological regime and its economic application as interdependent processes in which three mechanisms interact: the diffusion mechanism, the selection mechanism and the inducement mechanism, It is the interaction of these mechanisms which determines the environment for technical development and the position of different firms as institutions for promoting trajectories of technical advance.

Keywords: Diffusion Process; Technical Change; Selection Mechanism; Profit Margin; Secular Trend (search for similar items in EconPapers)
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-07455-6_5

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DOI: 10.1007/978-1-349-07455-6_5

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