Econometrica Vol. 29 No. 4 1961
Technical Change and the Rate of Imitation
Abstract
This paper investigates the factors determining how rapidly the use of a new technique spreads from one firm to another. A simple model is presented to help explain differences among innovations in the rate of imitation. Deterministic and stochastic versions of this model are tested against data showing how rapidly firms in four industries came to use twelve important innovations. The empirical results seem quite consistent with both versions of the model.
- DOI
- 10.2307/1911817
- Volume
- 29
- Issue
- 4
- Pages
- 741
- Sources
- openalex crossref