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Abstract:
Technology markets often exhibit extreme path dependency, enabling random or
idiosyncratic events to have dramatic effects on technology success or failure. However,
these effects accrue in an ordered way: by impacting a set of factors that have predictable
influences on technology adoption. Since firm strategy also impacts these factors,
technology adoption is neither wholly random nor beyond the firm's control. In this
article the author builds a model of these factors by integrating economics, strategy, and
marketing research. The model yields important implications for the strategic
development and deployment of technology.