The Process of an Innovation Cycle
An economic theory of the process of diffusion of innovations is developed and illustrated. In the theory, adoption is determined by comparative advantage considerations. An innovation is first adopted by skilled and experimenting entrepreneurs and then “diffuses” down the skills scale. If the innov...
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| Veröffentlicht in: | American journal of agricultural economics 1973-02, Vol.55 (1), p.28-37 |
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| container_end_page | 37 |
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| container_issue | 1 |
| container_start_page | 28 |
| container_title | American journal of agricultural economics |
| container_volume | 55 |
| creator | Yoav, Kislev Shchori-Bachrach, Nira |
| description | An economic theory of the process of diffusion of innovations is developed and illustrated. In the theory, adoption is determined by comparative advantage considerations. An innovation is first adopted by skilled and experimenting entrepreneurs and then “diffuses” down the skills scale. If the innovation affects supply substantially, prices may decline, profits eliminated, and early, skilled (and high labor opportunity cost) producers may exit from the affected line of production—hence, an “innovation cycle.” The theory implies that technological change is affected by the distribution as well as by the average level of skills. |
| doi_str_mv | 10.2307/1238658 |
| format | Article |
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| identifier | ISSN: 0002-9092 |
| ispartof | American journal of agricultural economics, 1973-02, Vol.55 (1), p.28-37 |
| issn | 0002-9092 1467-8276 |
| language | eng |
| recordid | cdi_proquest_journals_233171687 |
| source | Business Source Complete; Oxford University Press Journals Digital Archive Legacy; Periodicals Index Online; JSTOR Archive Collection A-Z Listing; EZB-FREE-00999 freely available EZB journals |
| subjects | Agricultural economics Business innovation Economic theory Family farms Industrial agriculture Industrial production Industrial products Innovation adoption Innovation diffusion Innovations Product innovation Technological innovation Vegetables |
| title | The Process of an Innovation Cycle |
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