Standardization, Compatibility, and Innovation Export

@article{citeulike:1761901, abstract = {There are often benefits to consumers and to firms from standardization of a product. We examine whether these standardization benefits can \"trap\" an industry in an obsolete or inferior standard when there is a better alternative available. With complete information and identical preferences among firms the answer is no; but when information is incomplete this \"excess inertia\" can occur. We also discuss the extent to which the problem can be overcome by communication.}, author = {Farrell, Joseph and Saloner, Garth}, citeulike-article-id = {1761901}, citeulike-linkout-0 = {http://www.jstor.org/stable/2555589}, journal = {The RAND Journal of Economics}, keywords = {450-1}, number = {1}, pages = {70--83}, posted-at = {2007-10-12 22:05:36}, priority = {2}, title = {Standardization, Compatibility, and Innovation}, url = {http://www.jstor.org/stable/2555589}, volume = {16}, year = {1985} }

TY - JOUR ID - citeulike:1761901 L3 - citeulike-article-id:1761901 N2 - There are often benefits to consumers and to firms from standardization of a product. We examine whether these standardization benefits can "trap" an industry in an obsolete or inferior standard when there is a better alternative available. With complete information and identical preferences among firms the answer is no; but when information is incomplete this "excess inertia" can occur. We also discuss the extent to which the problem can be overcome by communication. IS - 1 JF - The RAND Journal of Economics EP - 83 TI - Standardization, Compatibility, and Innovation VL - 16 SP - 70 KW - 450-1 AU - Farrell, Joseph AU - Saloner, Garth PY - 1985/// UR - http://www.jstor.org/stable/2555589 ER -