Acquisition and Adoption of New Technology
Information Acquisition and the Adoption of new Technology. *** (Mathematics) by McCardle, 1985
This paper presents a model for making adoption decision on new technology. It shows that it's optimal to continue to collect data on the market chances of the new technology, until the estimate crosses one of two thresholds. The graph on p 1374 visualizes how the amount of information gathered, narrows the threshold, required to make a definite decision.
The methodology is very similar to STS, but considers "unlimited" and "unrestricted" steps to obtain further information, instead of the "static" approach chosen by STS.
[mccardle1985] McCardle, Kevin F. (1985). ''Information Acquisition and the Adoption of new Technology.'', Management Science, pages 1372--1389, 31(11)