Book Details

Standardization and Expectations

Publish Date: 2006

ISBN: 978-3-540-28113-9

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Technological progress has brought about a multitude of standardization problems. For instance, compatibility standards ensure the interoperability of goods, which is of decisive importance when users face positive externalities in consumption. Consumers' expectations are key to the problem of whether a new technology will prevail as de-facto standard or not. Early adopters must be confident that the network good will be successful.

Subject: Business and Economics, Compatibility Standards, Expectations, Nash-Equilibria, competition, standardization