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| 001 | w31280 | ||
| 003 | NBER | ||
| 005 | 20240125162418.0 | ||
| 006 | m o d | ||
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| 008 | 240124s2023 mau fo 000 0 eng d | ||
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_aMaCbNBER _beng _cMaCbNBER |
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| 100 | 1 |
_aAlvarez, Fernando E. _930564 |
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| 245 | 1 | 0 |
_aStrategic Complementarities in a Dynamic Model of Technology Adoption: _bP2P Digital Payments / _cFernando E. Alvarez, David Argente, Francesco Lippi, Esteban Méndez, Diana Van Patten. |
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_aCambridge, Mass. _bNational Bureau of Economic Research _c2023. |
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_a1 online resource: _billustrations (black and white); |
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| 490 | 1 |
_aNBER working paper series _vno. w31280 |
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| 500 | _aMay 2023. | ||
| 520 | 3 | _aThis paper develops a dynamic model of technology adoption featuring strategic complementarities: the benefits of usage increase with the number of adopters. We study the diffusion of new means of payments, where such complementarities are pervasive. We show that complementarities give rise to multiple equilibria, suboptimal allocations, and study the planner's problem. The model generates gradualism in adoption, as individuals optimally wait for others to adopt before doing so. We apply the theory to the adoption of SINPE, an electronic peer-to-peer (P2P) payment app developed by the Central Bank of Costa Rica. Transaction-level data on the use of SINPE and several administrative data sets on the network structure allow us to exploit plausibly exogenous variation and to document sizable complementarities. A calibrated version of the model shows that the optimal subsidy pushes the economy to universal adoption. | |
| 530 | _aHardcopy version available to institutional subscribers | ||
| 538 | _aSystem requirements: Adobe [Acrobat] Reader required for PDF files. | ||
| 538 | _aMode of access: World Wide Web. | ||
| 588 | 0 | _aPrint version record | |
| 690 | 7 |
_aEconomic Development _2jelc |
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| 650 | 7 |
_aEconomic Development _2jelc |
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_aO1 _2jelc |
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| 690 | 7 |
_aDevelopment Planning and Policy _2jelc |
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| 650 | 7 |
_aDevelopment Planning and Policy _2jelc |
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_aO2 _2jelc |
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| 700 | 1 | _aArgente, David. | |
| 700 | 1 |
_aLippi, Francesco. _915400 |
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| 700 | 1 | _aMéndez, Esteban. | |
| 700 | 1 | _aVan Patten, Diana. | |
| 710 | 2 | _aNational Bureau of Economic Research. | |
| 830 | 0 |
_aWorking Paper Series (National Bureau of Economic Research) _vno. w31280. |
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| 856 | 4 | 0 | _uhttps://www.nber.org/papers/w31280 |
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_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w31280 |
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_2ddc _cW-PAPER |
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_c392758 _d351320 |
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