A model of the linked adoption of complementary technologies

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Abstract:

This paper presents a dynamic feedback model of the technology diffusion process in which each firm's technology adoption decisions maximize the net present value of its anticipated cash flow, taking into account the direct cost savings, the number of linked firms expected to adopt complementary technologies, and anticipated changes in adoption costs. The adoption of complementary technologies need not be simultaneous, but linked technologies can induce a rapid industrial regime shift without explicit coordination or planning.

Keywords: Complementary technologies; Innovation; Technology diffusion

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/1043859042000156057

Publication date: January 1, 2004

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