Author: Anna Pavlova
Publisher:
ISBN:
Category :
Languages : en
Pages : 33

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Author: Anna Pavlova
Publisher:
ISBN:
Category :
Languages : en
Pages : 32

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Book Description
We consider a variety of vintage capital models of a firm's choice of technology under uncertainty in the presence of adjustment costs and technology-specific learning. Similar models have been studied in a deterministic setting. Part of our objective is to examine the robustness of the implications of the certainty models to uncertainty. We find that the answer crucially depends on the specification of the costs of adoption of a new vintage of technology. In particular, if the cost comes only in terms of accumulated technology-specific expertise (cf. Parente (1994)), we demonstrate that the implications are robust for a variety of specifications of the firm's production function. However, once we develop a model in which each adoption requires a capital expenditure, predictions become increasingly different as uncertainty increases. The model implies that in booms, the firm accelerates adoptions of new technologies, delaying them in recessions. Adverse effects of a recession on the investment decisions are alleviated in part by the firm's expertise (or human capital). Compared to the deterministic benchmark, the firm increases the pace of adoptions, making a smaller technological advance each time it upgrades its technology. Overall, uncertainty negatively impacts growth and the firm value. Keywords: Technological Change, Vintage Capital, Optimal Scrapping, Learning-by-doing. JEL Classification: D81, D92, O31.

Author: Ruth D. Fisher
Publisher: Pearson Education
ISBN: 0131364421
Category : Business & Economics
Languages : en
Pages : 376

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“Many books discuss high-tech decision making, but this is the only book I know of that provides a systematic approach based on objective analysis.” —Matthew Scarpino, author of Programming the Cell Processor “This book offers a unique approach to analyzing business strategy that changes the focus and attitude to a lively and fun exercise of treating business strategy as a game.” —Dave Hendricksen, Architect, Thomson-Reuters USE GAME THEORY TO SOLVE THE #1 PROBLEM THAT CAUSES NEW TECHNOLOGIES TO FAIL IN THE MARKETPLACE: LACK OF COORDINATION Too many advanced technologies fail the test of adoption, at immense cost to their creators and investors. Why? Many new technologies are launched into complex ecosystems where hardware, software, and/or connectivity components must work together—for instance, next-generation gaming and video platforms that can only succeed if they offer attractive, compatible content. Often, users aren’t ready to give up existing systems, and content or connectivity providers aren’t ready to move away from existing markets. In either case, the real issue is a lack of coordination. Fortunately, coordination problems have specific, proven solutions, and Winning the Hardware–Software Game shows you exactly how to find them. Drawing on advanced ideas from game theory, economics, sociology, and business strategy, author Ruth D. Fisher presents a systematic framework for identifying, assessing, and resolving coordination problems among all the participants in a product ecosystem. Writing in plain, nontechnical, nonmathematical English, Dr. Fisher helps you discover specific steps that will prepare your customers and partners for successful adoption. Using these techniques, you can shape strategy, systematically reduce risk, and dramatically increase profitability. Topics covered in this book include: Discovering the forces that drive or delay adoption by users and content providers Understanding networks, network effects, switching costs, technology compatibility, and other crucial issues Speeding the pace of adoption, and getting to the “tipping point” sooner Clarifying and restructuring the incentives that motivate users and software providers Engineering new systems to maximize the likelihood of adoption Creating expectations of adoption and decreasing the relative value of older systems Learning from Apple Newton versus Palm Pilot, HD DVD versus Blu-Ray, and other significant technology battles Leveraging lock-in, path dependence, standardization, and first-mover advantage With so much at stake, Winning the Hardware–Software Game is a required resource for everyone concerned with new technology adoption—executives, strategists, R&D leaders, marketers, product managers, industry analysts, and investors alike.

Author: John L. Wake
Publisher:
ISBN:
Category :
Languages : en
Pages : 380

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Author:
Publisher: World Bank Publications
ISBN: 0821375849
Category : Technology & Engineering
Languages : en
Pages : 150

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Book Description
Innovation and cross-border absorption of knowledge are central forces behind economic convergence and sustained growth. Absorption of technology is a necessary step to promote the development of human capital and the productive base, paving the way for innovations at the global knowledge frontier. Research and development, patents, trade, and foreign direct investment are major channels of technological absorption, allowing diffusion of new ideas and manufacturing best practices among countries and firms. These channels constitute the central focus of this study. This study uses patent databases, surveys of enterprises, and case studies to investigate how specific channels of absorption molds decision making about technology. Trade and FDI flows show considerable promise as catalysts for the region to upgrade its technology and near the global technology frontier. Econometric analysis using enterprise surveys from all Europe and Central Asia countries helps to understand the conditions and policies that induce firms to incorporate external knowledge and technology into their overall growth strategies.

Author:
Publisher:
ISBN:
Category : Electronic journals
Languages : en
Pages : 484

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Author: Donald J. Meyer
Publisher: W.E. Upjohn Institute
ISBN: 0880992689
Category : Business & Economics
Languages : en
Pages : 192

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Annotation This book contains a collection of papers that address various aspects of risk, including riskmanagement and how it is applied to decisionmaking and the impact of risk on markets

Author: Louis A. Lefebvre
Publisher: Springer Science & Business Media
ISBN: 1461515874
Category : Business & Economics
Languages : en
Pages : 501

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Book Description
On September 17 and 18, 1998, a conference took place at Mont Tremblant on the theme "Doing Business in a Knowledge-Based Economy." This conference brought together some hundred participants from government, business and academia, with backgrounds in business administration, engineering, public administration and economics, to provide a multidisciplinary analysis of what has come to be known as the "Knowledge-Based Economy" (KBE). The aim was to come up with suggestions and recommendations about how to do business in a knowledge based economy, both at the firm level and at the government level. All presenters were explicitly asked to conclude with policy recommendations. The conference was sponsored by Industry Canada and organized by the Centre of Interuniversity Research on the Analysis of Organizations (CIRANO). The conference papers offered U.S., Canadian and European perspectives on the management of a knowledge-based economy. This volume is divided into three parts. The papers in part I set the stage by describing the salient features of the KBE. What is so special about it? What are its economic underpinnings? What are its technological characteristics? Knowledge plays a crucial role in a KBE, hence its name. Whereas, in the past, growth was determined primarily by the availability of land, natural resources, labour and capital successively, at the end of the twentieth century, knowledge has become a (if not the) major factor of economic growth.

Author: Richard N. Spivack
Publisher:
ISBN:
Category : Research and development contracts, Government
Languages : en
Pages : 182

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Author: Bruno de Oliveira Cruz
Publisher:
ISBN:
Category :
Languages : en
Pages : 62

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