2224. The Role of Learning in Technology Adoption
Invited abstract in session FA-4: Dynamics of the Firm, stream Continuous and Global Optimization.
Friday, 8:45-10:15Room: H6
Authors (first author is the speaker)
| 1. | Andrea Seidl
|
| WU Vienna | |
| 2. | Richard Hartl
|
| Business Decisions & Analytics, University of Vienna | |
| 3. | Peter Kort
|
| Tilburg University |
Abstract
In a world where technology is rapidly evolving, learning is an integral part of staying competitive. However, learning is costly in the sense that one not only must spend money on learning material, tuition, etc., but it requires time that one could proactively use for earning money.
The present paper presents and analyses a two-stage model where a decision maker must decide about continuous investments into a knowledge stock with respect to a new technology. Before technology adoption the decision maker has to accumulate sufficient knowledge so that when the new technology is introduced, it can be operated in an effective and efficient manner. In the present paper, we will examine the timing of technology adoption and analyze the impact of learning by doing. Furthermore, we will discuss the occurrence and implications of history-dependent solutions.
Keywords
- Continuous Optimization
Status: accepted
Back to the list of papers