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The Process of an Innovation Cycle

Author

Listed:
  • Kislev Yoav
  • Nira Shchori-Bachrach

Abstract

An economic theory of the process of diffusion of innovations is developed and illustrated. In the theory, adoption is determined by comparative advantage considerations. An innovation is first adopted by skilled and experimenting entrepreneurs and then "diffuses" down the skills scale. If the innovation affects supply substantially, prices may decline, profits eliminated, and early, skilled (and high labor opportunity cost) producers may exit from the affected line of production—hence, an "innovation cycle." The theory implies that technological change is affected by the distribution as well as by the average level of skills.

Suggested Citation

  • Kislev Yoav & Nira Shchori-Bachrach, 1973. "The Process of an Innovation Cycle," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 55(1), pages 28-37.
    • Handle: RePEc:oup:ajagec:v:55:y:1973:i:1:p:28-37.
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    File URL: http://hdl.handle.net/10.2307/1238658
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    1. Enid Katungi & Svetlana Edmeades & Melinda Smale, 2008. "Gender, social capital and information exchange in rural Uganda," Journal of International Development, John Wiley & Sons, Ltd., vol. 20(1), pages 35-52.
    2. Spiro E. Stefanou, 1987. "Technical Change, Uncertainty, and Investment," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 69(1), pages 158-165.
    3. Jabbar, Mohammad A. & Beyene, Hailu & Mohamed Saleem, M A & Gebreselassie, Solomon, 1998. "Adoption pathways for new agricultural technologies : An approach and an application to Vertisols management technology in Ethiopia," Research Reports 182901, International Livestock Research Institute.
    4. Mattia Romani, 2003. "The impact of extension services in times of crisis: Côte d’Ivoire (1997-2000)," CSAE Working Paper Series 2003-07, Centre for the Study of African Economies, University of Oxford.
    5. Annou, Mamane Malam & Wailes, Eric J. & Thomsen, Michael R., 2005. "A Dynamic Decision Model of Technology Adoption under Uncertainty: Case of Herbicide-Resistant Rice," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 37(1), pages 1-12, April.
    6. Blackman, Allen, 1999. "The Economics of Technology Diffusion: Implications for Climate Policy in Developing Countries," Discussion Papers 10574, Resources for the Future.
    7. Rae, Allan N. & Carman, Hoy F., 1975. "A Model Of New Zealand Apple Supply Response To Technological Change," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 19(1), pages 1-13, April.
    8. Kim, Tae-Kyun, 1989. "The factor bias of technical change and technology adoption under uncertainty," ISU General Staff Papers 1989010108000010138, Iowa State University, Department of Economics.
    9. Rahm, Michael Robert, 1980. "An economic analysis of the corn production efficiency of Iowa farm firms," ISU General Staff Papers 198001010800008119, Iowa State University, Department of Economics.
    10. Kimhi, Ayal & Rubin, Ofir D., 2006. "Assessing The Response Of Farm Households To Dairy Policy Reform In Israel," Discussion Papers 7134, Hebrew University of Jerusalem, Department of Agricultural Economics and Management.
    11. Zilberman, David, 1982. "The Use And Potential Of Optimal Control Models In Agricultural Economics," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(2), pages 1-12, December.
    12. Shi Zheng & Pei Xu & Zhigang Wang, 2012. "Farmers' adoption of new plant varieties under variety property right protection," China Agricultural Economic Review, Emerald Group Publishing Limited, vol. 4(1), pages 124-140, January.
    13. Bachewe, Fantu N. & Berhane, Guush & Minten, Bart & Taffesse, Alemayehu S., 2018. "Agricultural Transformation in Africa? Assessing the Evidence in Ethiopia," World Development, Elsevier, vol. 105(C), pages 286-298.
    14. Singh, Kehar, 2005. "Decomposition of Economic Efficiency under Risk into Technical and Allocative Risks: A Study on Fish Production in South Tripura District, Tripura, India," Agricultural Economics Research Review, Agricultural Economics Research Association (India), vol. 18(Conferenc).
    15. Peterson, Willis L. & Hayami, Yujiro, 1977. "Technical Change in Agriculture," A Survey of Agricultural Economics Literature, Volume 1: Traditional Fields of Agricultural Economics 1940s to 1970s,, Agricultural and Applied Economics Association.
    16. Peterson, Willis L. & Fitzharris, Joseph C., 1974. "The Organization And Productivity Of The Federal - State Research System In The United States," Staff Papers 13957, University of Minnesota, Department of Applied Economics.
    17. Alexander-Haw, Abigail & Breitschopf, Barbara, 2024. "How to design an auction: The impact of auction implementation elements on the financing costs of renewable electricity projects," Energy Policy, Elsevier, vol. 188(C).
    18. Kalaitzandonakes, Nicholas G. & Taylor, Timothy G., 1990. "Competitive Pressure And Productivity Growth: The Case Of The Florida Vegetable Industry," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 22(2), pages 1-9, December.
    19. Teigen, Lloyd D., 1988. "Agricultural Policy, Technology Adoption, and Farm Structure," Staff Reports 278118, United States Department of Agriculture, Economic Research Service.
    20. Feilong Weng & Xuan Liu & Xuexi Huo, 2023. "Impact of Internet Use on Farmers’ Organic Fertilizer Investment: A New Perspective of Access to Credit," Agriculture, MDPI, vol. 13(1), pages 1-13, January.
    21. Xu, Pei & Wang, Zhigang, 2012. "Factors Affect Chinese Producers' Adoption of a New Production Technology: Survey Results from Chinese Fruits Producers," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 13(2), pages 1-16.

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