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The Relationship Between Diffusion Rates, Experience Curves, and Demand Elasticities for Consumer Durable Technological Innovations

Frank M. Bass
The Journal of Business
Vol. 53, No. 3, Part 2: Interfaces Between Marketing and Economics (Jul., 1980), pp. S51-S67
Stable URL: http://www.jstor.org/stable/2352211
Page Count: 17
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
The Relationship Between Diffusion Rates, Experience Curves, and Demand Elasticities for Consumer Durable Technological Innovations
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Abstract

In this paper, experience-curve theory is merged with the theory of adoption of innovations on the basis of the profit-maximizing principle to form a dynamic theory of demand and price for consumer durable technological innovations. As a result of learning, costs and prices for new durables will fall continuously, while demand will grow at first and then decline as the market becomes saturated. Empirical estimates are made of learning rates, contagion rates, and demand elasticities for several consumer durable innovations.

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