| Abstract: | This paper develops a model that shows that the adoption of a modern conservation technology is a gradual process in which dynamic patterns are determined by variation in resource quality among producers, improvements in equipment, and learning. The dynamics of technological changes are reflected in the cyclical patterns of production and resource use. A numerical example simulates adoption rates of modern irrigation technologies using California data and shows that rate of adoption is an S-shaped function of time and that water use and output are cyclical. |
