In static models of the adoption of new technologies, a firm generally adopts complementary technologies simultaneously. This paper presents a dynamic model in which, taking into account the potential time paths of costs and benefits, it may be more prudent to adopt complementary technologies...

This paper considers technology adoption under both technological and subsidy uncertainties. Uncertainty in subsidies for green technologies is considered as an example. Technological progress is exogenous and modeled as a jump process with a drift. The analytical solution is presented for cases...

This paper studies technology adoption in a duopoly where the unbiased technological change improves production efficiency. Technological progress is exogenous and modeled as a jump process with a drift. There is always a Markov perfect equilibrium in which the firm with more efficient...