Self-reinforcing mechanisms and market information

被引：1
|
作者：
Agliardi, E [1 ]
Bebbington, MS [1 ]
机构：
[1] MASSEY UNIV,DEPT STAT,PALMERSTON NORTH,NEW ZEALAND
来源：
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH | 1997年 / 96卷 / 03期
关键词：
network externalities; market information; lock-in effect;
D O I：
10.1016/S0377-2217(96)00093-8
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
We 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 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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页码：444 / 454
页数：11
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