Technology adoption, mortality, and population dynamics

RePEc Short ID: pra33
ORCID iD: 0000-0001-6991-4677

Hejkal, John P.; Ravikumar, B.; Vandenbroucke, Guillaume

doi:10.20955/wp.2020.039

Working Paper Revision

Technology adoption, mortality, and population dynamics

Abstract: We develop a quantitative theory of mortality and population dynamics, emphasizing individuals' decisions to reduce their mortality by adopting better health technology. Expanded use of this technology reduces the cost of adoption and confers a dynamic externality by increasing the future number of individuals who use the technology. Our model generates a diffusion curve whose shape dictates the pace of mortality reduction. The model explains historical trends in mortality rates and life expectancies at various ages and population dynamics in Western Europe. Unlike Malthusian theories based solely on income, ours is consistent with the observed disconnect between mortality and income. Unlike Beckerian theories of fertility, ours accounts for the observed acceleration in population.

Keywords: mortality; life expectancy; population dynamics; technology diffusion; convergence;

JEL Classification: I12; I15; J11; E13;

https://doi.org/10.20955/wp.2020.039