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The Roles of Risk and Ambiguity in Technology Adoption

Authors: Bradford L. Barham; Jean-Paul Chavas; Dylan Fitz; Vanessa Ríos Salas; Laura Schechter;

The Roles of Risk and Ambiguity in Technology Adoption

Abstract

We study the impacts of risk and ambiguity aversion on the adoption of new technologies, specifically genetically modified (GM) corn and soy seeds. We conduct experiments measuring risk and ambiguity aversion with Midwestern grain farmers. Risk aversion has little impact on the timing of adoption, but more ambiguity-averse farmers are the early adopters of GM corn. We hypothesize that this unusual finding is due to the fact that GM corn typically contains an insecticide-resistance trait which reduces the ambiguity of pest damages for adopters. This highlights the importance of distinguishing between risk and ambiguity when studying the effects of aversion to uncertainty on adoption.

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
167
Top 1%
Top 10%
Top 10%
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