Technology Adoption over the Life Cycle and Aggregate Technological Progress
A model is studied with exogenously occurring technological progress and endogenous adoption of it. Individuals with N-period lives optimally allocate their time between leisure, work and adoption of new technology. It is shown that optimal behavior is characterized by a sequence of 4 phases of life...
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| Veröffentlicht in: | Southern economic journal 1997-04, Vol.63 (4), p.872-887 |
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| container_title | Southern economic journal |
| container_volume | 63 |
| creator | Swanson, Charles E. Kopecky, Kenneth J. Tucker, Alan |
| description | A model is studied with exogenously occurring technological progress and endogenous adoption of it. Individuals with N-period lives optimally allocate their time between leisure, work and adoption of new technology. It is shown that optimal behavior is characterized by a sequence of 4 phases of life, which, described in their order of occurrence, are: 1. adoption only (schooling), 2. work and adoption (career path), 3. work but no adoption (end-of-work-life easing) and 4. not work or adoption (retirement). The model implies that older workers will appear more productive because each hour of non-leisure time will be devoted entirely to productive work, rather than being divided between work and technology adoption time. |
| doi_str_mv | 10.2307/1061228 |
| format | Article |
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Individuals with N-period lives optimally allocate their time between leisure, work and adoption of new technology. It is shown that optimal behavior is characterized by a sequence of 4 phases of life, which, described in their order of occurrence, are: 1. adoption only (schooling), 2. work and adoption (career path), 3. work but no adoption (end-of-work-life easing) and 4. not work or adoption (retirement). 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Individuals with N-period lives optimally allocate their time between leisure, work and adoption of new technology. It is shown that optimal behavior is characterized by a sequence of 4 phases of life, which, described in their order of occurrence, are: 1. adoption only (schooling), 2. work and adoption (career path), 3. work but no adoption (end-of-work-life easing) and 4. not work or adoption (retirement). The model implies that older workers will appear more productive because each hour of non-leisure time will be devoted entirely to productive work, rather than being divided between work and technology adoption time.</description><subject>Age</subject><subject>Career development planning</subject><subject>Decision making</subject><subject>Economic models</subject><subject>Emerging technology</subject><subject>Innovation adoption</subject><subject>Labor time</subject><subject>Life cycles</subject><subject>Mathematical analysis</subject><subject>Mathematical constants</subject><subject>New technology</subject><subject>Older workers</subject><subject>Present value</subject><subject>Productivity growth</subject><subject>Public capital</subject><subject>Software</subject><subject>Studies</subject><subject>Technological change</subject><subject>Technological innovation</subject><subject>Technological innovations</subject><subject>Technology</subject><subject>Technology 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| fulltext | fulltext |
| identifier | ISSN: 0038-4038 |
| ispartof | Southern economic journal, 1997-04, Vol.63 (4), p.872-887 |
| issn | 0038-4038 2325-8012 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_839067980 |
| source | Business Source Complete; Periodicals Index Online; JSTOR Archive Collection A-Z Listing; Wiley Online Library All Journals |
| subjects | Age Career development planning Decision making Economic models Emerging technology Innovation adoption Labor time Life cycles Mathematical analysis Mathematical constants New technology Older workers Present value Productivity growth Public capital Software Studies Technological change Technological innovation Technological innovations Technology Technology adoption Technology assessment Training Working hours |
| title | Technology Adoption over the Life Cycle and Aggregate Technological Progress |
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