search query: @indexterm Network externalities / total: 20
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| Author: | Agiardi, E. Bebbington, M. |
| Title: | Self-reinforcing mechanisms and market information |
| Journal: | European Journal of Operational Research
1997 : FEB 1, VOL. 96:3, p. 444-454 |
| Index terms: | MARKETING INFORMATION OPERATIONAL RESEARCH NETWORK EXTERNALITIES |
| Language: | eng |
| Abstract: | The authors consider the possibility of switching between two technological standards when there are network externalities and imprecise market information, by modeling the decisions of each firm by a stochastic process. necessary and sufficient conditions for there to be a multiple equilibria in market share, and for permanent lock-in to one of these equilibria not to occur, are presented. In such a case, the market lingers at prevalence of one standard with intermittent transitions to prevalence of the other, the frequency of which is derived by the theory of large deviations. |
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