Frick, Mira; Ishii, Yuhta - In: Theoretical economics : TE ; an open access journal in … 19 (2024) 4, pp. 1505-1541
We build a model studying the effect of an economy's potential for social learning on the adoption of innovations of … qualitative and quantitative features of the learning environment affect equilibrium adoption dynamics, welfare, and the speed of … learning. Based on this, we show how differences in the learning environment translate into observable differences in adoption …