Self-Reinforcing Mechanisms and Market Information

Agliardi, Elettra ; Bebbington, Mark S. (1992) Self-Reinforcing Mechanisms and Market Information. Bologna: Dipartimento di Scienze economiche DSE, p. 19. DOI 10.6092/unibo/amsacta/5223. In: Quaderni - Working Paper DSE (137). ISSN 2282-6483.
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Abstract

We consider the possibility of switching between two technological standards when there are network externalities and imprecise market information. Multiple equilibria in terms of market shares can arise. The main result is that lock-in to one of multiple equilibria is not a permanent out- come when the source of lock-in is network externalities. The market lingers at prevalence of one standard with intermittent transitions to prevalence of the other. In other words, lock-in is a temporary occurrence.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Agliardi, Elettra0000-0001-9950-1152
Bebbington, Mark S.
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ISSN
2282-6483
DOI
Deposit date
22 Jun 2016 08:16
Last modified
22 Jun 2016 08:16
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