RANK, STOCK, ORDER, AND EPIDEMIC EFFECTS IN THE DIFFUSION OF NEW PROCESS TECHNOLOGIES - AN EMPIRICAL-MODEL
UNSPECIFIED (1993) RANK, STOCK, ORDER, AND EPIDEMIC EFFECTS IN THE DIFFUSION OF NEW PROCESS TECHNOLOGIES - AN EMPIRICAL-MODEL. RAND JOURNAL OF ECONOMICS, 24 (4). pp. 503-528. ISSN 0741-6261Full text not available from this repository.
In this article we construct a general duration model of technology adoption that incorporates the main factors discussed in different theories of diffusion of new process technologies. The model is applied to data on diffusion of CNC in the UK engineering industry. Although we find strong evidence in support of rank and endogenous learning effects, there seems to be little evidence in support of the stock and order effects. The main factors affecting the diffusion of CNC are found to be endogenous learning, firm size, industry growth rates, the cost of the technology, and expected changes in the cost of the technology.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HC Economic History and Conditions|
|Journal or Publication Title:||RAND JOURNAL OF ECONOMICS|
|Number of Pages:||26|
|Page Range:||pp. 503-528|
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