Generalized Urn Schemes and Technological Dynamics

Dosi G, Ermoliev YM, & Kaniovski YM (1991). Generalized Urn Schemes and Technological Dynamics. IIASA Working Paper. IIASA, Laxenburg, Austria: WP-91-009

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Abstract

Adaptive (path dependent) processes of growth modeled by urn schemes are important for several fields of applications: biology, physics, chemistry, economics.

In this paper several macroeconomic models of technological dynamics are studied by the means of adaptive processes of growth. One of the models tackles the case when there is a separation within the pool of adopters which can be interpreted as the outcome of adaptive learning on the features of the new technologies by imperfectly informed agents. Others deal with dependence of final market shares of two technologies on the pricing policies of the firms which produce them. The stochasticity of the processes is caused by some mixed strategies used by the adopters or/and imperfectness of the information which they posses. To study these conceptual problems some modifications of the basic results concerning the generalized urn scheme are given.

Item Type: Monograph (IIASA Working Paper)
Research Programs: Adaption and Optimization (ADO)
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 02:01
Last Modified: 18 Nov 2016 17:52
URI: http://pure.iiasa.ac.at/3555

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