search query: @author Vettas, N. / total: 4
reference: 4 / 4
« previous | next »
| Author: | Vettas, N. |
| Title: | Investment dynamics in markets with endogenous demand |
| Journal: | Journal of Industrial Economics
2000 : JUN, VOL. 48:2, p. 189-204 |
| Index terms: | INDUSTRIAL ECONOMICS INVESTMENT MARKETS |
| Language: | eng |
| Abstract: | The author examines entry into markets where demand is an increasing function of past sales because of learning, networks, or fashion. Demand is initially unknown (with firms learning in Bayesian fashion) and grows endogenously over time. The competitive expansion path and the efficient/ monopoly solution differ not only with respect to levels (the market's investment is too low), but also time patterns: externalities contribute to S-shaped diffusion. |
« previous | next »
SCIMA