Herd behaviour as an incentive scheme

被引：16
|
作者：
Melissas, N [1 ]
机构：
[1] Univ Leicester, Dept Econ, Leicester LE1 7RH, Leics, England
来源：
ECONOMIC THEORY | 2005年 / 26卷 / 03期
关键词：
free-rider problem; public good; information externality; herd behaviour; social learning;
D O I：
10.1007/s00199-004-0530-4
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We consider a set-up in which firms sequentially adopt a technology. The technology is a public good. Late movers, upon observing the early movers adopting the old technology, (partly) infer that the new technology does not exist. This hampers their incentives to innovate. Early movers anticipate this and rather exert effort to try to invent the new technology. Hence, in our model herding reduces free-rider problems and may-in the presence of switching costs-even increase efficiency.
引用
收藏
页码：517 / 536
页数：20
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