Estimados Académicos y Académicas FEN,

Les extendemos la invitación al seminario que organiza el Departamento de Economía, en el que se presentará el trabajo titulado "Strategic Complenetarities in a Dynamic Model of Technology Adoption: P2P Digital Payments".

Expone: David Argente, Profesor Asistente, Universidad de Yale.

Coautor: Fernando Alvarez, Francesco Lippi, Esteban Mendez y Diana Van Patten.

Abstract: We develop a dynamic model of technology adoption featuring strategic complementarities: the benefits of the technology increase with the number of adopters. We show that complementarities give rise to gradual adoption, multiple equilibria, multiple steady states, and suboptimal allocations. We study the planner’s problem and its implementation through adoption subsidies. We apply the theory to SINPE M´ovil, an electronic peer-to-peer payment app developed by the Central Bank of Costa Rica, currently adopted by 60 percent of adults. Using transaction-level data and several administrative data we estimate sizable complementarities. In our calibrated model the optimal subsidy pushes the economy to universal adoption.

El formato será presencial y el seminario se desarrollará en la Sala P-308.

Saludos cordiales,

Dirección de Investigación