Human Capital and Adoption of Innovations: Policy Implications | Zendy

Huffman Wallace E. | Zendy

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Human Capital and Adoption of Innovations: Policy Implications

Author(s) -

Huffman Wallace E.

Publication year - 2020

Publication title -

applied economic perspectives and policy

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 1.4

H-Index - 49

eISSN - 2040-5804

pISSN - 2040-5790

DOI - 10.1002/aepp.13010

Subject(s) - allocative efficiency , human capital , business , economics , industrial organization , public economics , capital (architecture) , economic growth , microeconomics , archaeology , history

New technologies are made possible by public and private R&D. Investments in education increase skills for decision making—denoted as allocative efficiency. In an environment with dynamic technology, farmers with more education are better able to make technology adoption decisions in a dynamic economic and technical environment. Societies have developed institutions and policies for sharing the costs of education and obtaining the benefits.

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