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TWO TECHNOLOGICAL REVOLUTIONS

delete2003-05-01
delete16
PRE
AI
J
Jovanovic, Boyan *
R
Rousseau, Peter L.
DOI:10.1162/154247603322391053delete
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摘要

摘要

En 中文
The IPOs of the Electricity/Internal Combustion revolution created more lasting value than the IPOs of the IT revolution. Stock-market data point to two explanations for this. First, computer prices have been falling much faster than did those of electricity and internal combustion in the 1890-1930 period, and so the value of each generation of computer-intensive entrants is reduced by later entrants. And, second, the pre-1973 vintages reacted to the microcomputer relatively quickly, perhaps because the threat of being taken over is now higher than it was 70-100 years ago. (JEL: O3, N2)
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期刊

Journal of the European Economic Association 封面图
Journal of the European Economic Association
IF:
3.3
论文数:
1.5K
被引数:
6.6K

机构

N
New York University
学者数:
4.4W
论文数: 3.9W
被引数: 5.8W
V
vanderbilt university
学者数:
5.1W
论文数: 4.1W
被引数: 59
引用论文

引用论文

Why wait? A century of life before IPO
err2001-05-01
err82
errOAAI
errJovanovic, B; Rousseau, PL
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