Research & Projects

In a rapidly evolving technological landscape, firms not only face the challenge of whether to adopt new technology but also when to do so, as the timing of adoption critically impacts their competitive advantage and payoffs. This research develops and estimates a structural dynamic model framed as a sequential-move game, capturing firms’ strategic behavior in response to the exogenous rollout of Spectrum technology generations—from 3G through 4G to 5G. By modeling firms’ timing decisions within this dynamic framework, the study sheds light on the interplay between technology diffusion and firm-level investment incentives, providing empirical insights into adoption patterns and market outcomes.