Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/147981
Authors: 
Korzinov, Vladimir
Savin, Ivan
Year of Publication: 
2016
Series/Report no.: 
Working Paper Series in Economics, Karlsruher Institut für Technologie (KIT) 95
Abstract: 
We propose a novel model of knowledge discovery shedding light on the emergence of General Purpose Technologies (GPTs), the process which has been largely neglected in the literature on technological change. We demonstrate that GPTs emerge only when certain conditions with regard to the following techno-economic factors are met: knowledge diffusion, coordination on technological trajectories and volatility in the rank of expected returns on products. Furthermore, our model provides intuitive explanation for technological lock-ins, S-shaped curves of technology adoption, temporal clustering of innovations in time and replicates distinct features of empirical networks of relatedness among technologies and products.
Subjects: 
general purpose technology
technology networks
pervasiveness of technologies
knowledge diffusion
innovation
JEL: 
C63
D83
D85
L16
O3
Document Type: 
Working Paper

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