New PDF release: Standardization and Expectations

By Tobias Langenberg

Over the final many years, technological growth has caused a large number of standardization difficulties. for example, compatibility criteria make sure the interoperability of products, that's of decisive value whilst clients face confident externalities in intake. shoppers' expectancies are key to the matter of even if a brand new know-how will be triumphant as de-facto normal or now not. Early adopters needs to be convinced that the community stable should be profitable. therefore, it can be necessary for companies to steer shoppers' expectancies. together with 3 types on a variety of features of standardization and expectancies, this booklet goals at deepening our knowing of the way criteria and expectancies have interaction. The types are utilized to difficulties reminiscent of "Inter-Technology vs. Intra-Technology festival" and "Standardization of Nascent Technologies".

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Intra-Technology Competition 4. If firm ^ has a moderate cost advantage, it can exploit its first mover advantage in order to deter the entry of the competing technology. The deterrence quantity >^^£>* > 0 is derived from firm B's reaction function. It corresponds to the quantity of good A which makes firm B respond with an output equal to zero. Fig. 1 summarizes the timing structure and the possible equilibrium paths which must fulfill consumers' expectations. ,* = 0 Deterred Entry of B 1 ^ 1 1 yh* / A / - ^ fsj* Incomp.

19) yA,D Fig. 5 T-re a^=a5=l, H: Fig. 3 Fulfilled Expectations Equilibrium 53 Fig. 4 illustrates the impact of substitutability on deterrence profits. If the degree of substitutability, y, is low, firm^^ needs a larger quantity in order to prevent the entry of technology B. Thus, starting with c^ = 1, the maximum deterrence profit H^ ^ * (c^^ ) and the zero point are reached faster. Fig. e. the deterrence profit always rises in n: dU\,* dn {a,-c,y >0. 21) Fig. 5 depicts this result. \fn approaches its upper limit « = 1, the deterrence profit is illustrated by a straight line.

Suppose that firm A selects a lower quantity j ; ^ < y\j^ * in the second stage. In this case, it is beneficial for firm B to enter the market in the third stage. 29) dy^ 2y Entry deterrence is not consistent if it is worthwhile for the leader to reduce its quantity y^ and to accept firm 5's market entry. 3 Fulfilled Expectations Equilibrium <0 <:> c . ^^ ^ * and the deterrence expectations y^^ = y^j^ * and >^J = 0, firm A could increase its profit by reducing its output.

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