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Commitment to a Process Innovation: Nucor, USX, and Thin-Slab Casting

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  • Ghemawat, Pankaj

Abstract

This paper studies the order of adoption of a process innovation, thin-slab casting, by U.S. steelmakers. A game-theoretic model of technology adoption with capacity constraints indicates that incumbents are likely to trail entrants in adopting process technologies that reduce the minimal scale required to compete. Evidence from the case study also indicates, however, that the sorts of interactive effects emphasized by game-theoretic models may be dominated by the effects of competitors' heterogeneous precommitments. Copyright 1993 by MIT Press.

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  • Ghemawat, Pankaj, 1993. "Commitment to a Process Innovation: Nucor, USX, and Thin-Slab Casting," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 2(1), pages 135-161, Spring.
    • Handle: RePEc:bla:jemstr:v:2:y:1993:i:1:p:135-61
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    Cited by:

    1. Luís Cabral & Cristian Dezső, 2008. "Technology Adoption with Multiple Alternative Designs and the Option to Wait," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 17(2), pages 413-441, June.
    2. Byong‐Duk Rhee & Seth W. Norton, 2001. "Strategic Quality Decisions under Heterogeneous Resource Endowments," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 10(2), pages 235-264, June.
    3. Han T. J. Smit & Lenos Trigeorgis, 2017. "Strategic NPV: Real Options and Strategic Games under Different Information Structures," Strategic Management Journal, Wiley Blackwell, vol. 38(13), pages 2555-2578, December.
    4. David A. Hennessy, 1998. "Technology Adoption and Welfare under a Monopoly: An Illustration of Microeconomic Policy Analysis," The Journal of Economic Education, Taylor & Francis Journals, vol. 29(2), pages 111-117, June.
    5. Pankaj Ghemawat, 1994. "Competitive Advantage and Internal Organization: Nucor Revisited," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 3(4), pages 685-717, December.
    6. Mikko Ketokivi & Joseph T. Mahoney, 2020. "Transaction Cost Economics As a Theory of Supply Chain Efficiency," Production and Operations Management, Production and Operations Management Society, vol. 29(4), pages 1011-1031, April.
    7. Robert A. Ritz, 2009. "Carbon leakage under incomplete environmental regulation: An industry-level approach," Economics Series Working Papers 461, University of Oxford, Department of Economics.
    8. Levin, Mark (Левин, Марк) & Matrosova, Kseniya (Матросова, Ксения), 2015. "Innovation management based concidering advertising and complementarity of public and private levels of technology [Управление Инновациями С Учетом Рекламы И Комплементарности Общественного И Частн," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 109-132.
    9. Hillary Ekisa Nambanga & Jianpei Li, 2021. "Threat of Entry, Complete Information and Pricing," International Journal of Science and Business, IJSAB International, vol. 5(5), pages 161-182.
    10. Richard A. Jensen, 2004. "Multiplant Firms and Innovation Adoption and Diffusion," Southern Economic Journal, John Wiley & Sons, vol. 70(3), pages 661-671, January.

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