Diffusion and Competition of Innovative Cardiological Technologies

28 Pages Posted: 21 Nov 2007

See all articles by Thomas Grebel

Thomas Grebel

Friedrich-Schiller-Universität Jena

Tom Wilfer

Friedrich-Schiller-Universität Jena

Date Written: November 21, 2007

Abstract

The paper aims to investigate the diffusion process of two competing innovative technologies in the health care sector. Novelties in cardiovascular surgery will serve as an example. Using a rather simple modeling approach for the decisions of adopters and suppliers we simulate the evolution of a new market and discuss the effects network externalities and individual learning unfold in different scenarios. Increasing returns to adoption may lead to situations of technological "lock in".

Keywords: technological change, diffusion processes, competing technologies, adoption decisions, social learning, medical equipment,network externalities

JEL Classification: O33, I11, D43

Suggested Citation

Grebel, Thomas and Wilfer, Tom, Diffusion and Competition of Innovative Cardiological Technologies (November 21, 2007). Jena Economic Research Paper No. 2007-091, Available at SSRN: https://ssrn.com/abstract=1031621 or http://dx.doi.org/10.2139/ssrn.1031621

Thomas Grebel (Contact Author)

Friedrich-Schiller-Universität Jena ( email )

Furstengraben 1
Jena, Thuringa 07743
Germany

Tom Wilfer

Friedrich-Schiller-Universität Jena ( email )

Furstengraben 1
Jena, Thuringa 07743
Germany

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