Adoption of New Technology

Bronwyn Hall and Beethika Khan

Department of Economics, Working Paper Series from Department of Economics, Institute for Business and Economic Research, UC Berkeley

Abstract: The contribution of new technology to economic growth can only be realized when and if the new technology is widely diffused and used. Diffusion itself results from a series of individual decisions to begin using the new technology, decisions which are often the result of a comparison of the uncertain benefits of the new invention with the uncertain costs of adopting it. An understanding of the factors affecting this choice is essential both for economists studying the determinants of growth and for the creators and producers of such technologies. Section II of this article discusses the modeling of diffusion and Sections III to V explore the determinants of diffusion and the evidence for their importance.

Keywords: technology adoption; diffusion; network goods; technological standards; real options (search for similar items in EconPapers)
Date: 2003-05-03
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Citations: View citations in EconPapers (143)

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Related works:
Working Paper: Adoption of New Technology (2004)
Working Paper: Adoption of New Technology (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:cdl:econwp:qt3wg4p528

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