The adoption and adaptation of externally originated ideas

Fidel Perez-Sebastian ()
Additional contact information
Fidel Perez-Sebastian: Universidad Pública de Navarra, Departamento de Economía, 31006 Pamplona, Spain
Authors registered in the RePEc Author Service: Fidel Perez Sebastian

Spanish Economic Review, 2000, vol. 2, issue 3, 249-266

Abstract: This paper presents a vintage-capital model of technology adoption that takes seriously the fact that new inventions are specific to the environment in which they emerge. The key feature of the model is that the firm can invest resources in R&D to adapt externally originated ideas to the environment in which they are used. We show that because of the possibility of investing in R&D, differences between the inventor's and user's environments can explain why some firms invest in old techniques. Several predictions of the model are consistent with observation.

Keywords: R&D; adoption; adaptation; optimal timing (search for similar items in EconPapers)
JEL-codes: D92 O33 (search for similar items in EconPapers)
Date: 2001-01-24
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.de/link/service/journals/10108/papers/0002003/00020249.pdf (application/pdf)
Access to the full text of the articles in this series is restricted

Related works:
Working Paper: The Adoption and Adaptation of Externally Originated Ideas (1998)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:specre:v:2:y:2000:i:3:p:249-266

Ordering information: This journal article can be ordered from
http://www.springer. ... etailsPage=societies

Access Statistics for this article

Spanish Economic Review is currently edited by Eduardo Ley

More articles in Spanish Economic Review from Springer, Spanish Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().