The Acquisition of Information and the Adoption of New Technology
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TL;DR
A dynamic model of diffusion of a new technology involving a variable input highlights the role of active information accumulation, which entails costs, and provides a possible explanation to the often observed lag in adoption of innovations by smaller farmers.
Abstract
Abstract This paper presents a dynamic model of diffusion of a new technology involving a variable input. The model highlights the role of active information accumulation, which entails costs. It generates several hypotheses regarding the likely pattern of adoption and use of the variable input over time by farmers of differing holding sizes and different access to information. It provides a possible explanation to the often observed lag in adoption of innovations by smaller farmers. Analysis of data from India on knowledge and adoption of several practices yields results which are generally consistent with the hypotheses suggested by the theoretical framework.