Matches in SemOpenAlex for { <https://semopenalex.org/work/W1707050443> ?p ?o ?g. }
Showing items 1 to 84 of
84
with 100 items per page.
- W1707050443 abstract "In this paper, we develop an economic rationale for the following stylized fact: Web-based firms spend profligately on advertising and marketing and usually lose money. Our rationale is based on the winner-take-all structure of high fixed cost, low marginal cost, markets for information goods. This market structure ensures that market participation and investment policy are highly stochastic. Moreover, if a firm chooses to participate in a Web market, it is optimal to act very aggressively through saturation advertising. Although increases in advertising costs reduce the probability of entry, once the decision to enter is made, firm strategies are insensitive to advertising price. Consistent with empirical studies of the profitability of internet firms (Hand, 2001), our model predicts returns that are highly positively skewed, that is, even the firms that survive the competition for market position have a small chance of huge gains combined with a large probability of very modest returns. In dynamic competition, firms weakened by early rounds are less likely to challenge in subsequent rounds. However, when a challenge is attempted, it is always aggressive. In addition, because large expenditures in the first period produce valuable strategic real options in later periods, which are treated as expenses using traditional accounting methodology, the financial valuation of Internet firms may actually be negatively related to performance when using standard accounting measures of profitability that fail to capitalize these strategic real options." @default.
- W1707050443 created "2016-06-24" @default.
- W1707050443 creator A5018411459 @default.
- W1707050443 creator A5020087573 @default.
- W1707050443 date "2000-01-01" @default.
- W1707050443 modified "2023-09-26" @default.
- W1707050443 title "Winner Take All: Competition, Strategy, and the Structure of Returns in the Internet Economy" @default.
- W1707050443 cites W1479910094 @default.
- W1707050443 cites W1564959906 @default.
- W1707050443 cites W1971712317 @default.
- W1707050443 cites W1981674398 @default.
- W1707050443 cites W2005762873 @default.
- W1707050443 cites W2060965809 @default.
- W1707050443 cites W2114017815 @default.
- W1707050443 cites W3123900511 @default.
- W1707050443 cites W3125517498 @default.
- W1707050443 doi "https://doi.org/10.2139/ssrn.250371" @default.
- W1707050443 hasPublicationYear "2000" @default.
- W1707050443 type Work @default.
- W1707050443 sameAs 1707050443 @default.
- W1707050443 citedByCount "6" @default.
- W1707050443 countsByYear W17070504432017 @default.
- W1707050443 crossrefType "journal-article" @default.
- W1707050443 hasAuthorship W1707050443A5018411459 @default.
- W1707050443 hasAuthorship W1707050443A5020087573 @default.
- W1707050443 hasConcept C10138342 @default.
- W1707050443 hasConcept C110875604 @default.
- W1707050443 hasConcept C129361004 @default.
- W1707050443 hasConcept C136764020 @default.
- W1707050443 hasConcept C139719470 @default.
- W1707050443 hasConcept C144133560 @default.
- W1707050443 hasConcept C162324750 @default.
- W1707050443 hasConcept C175444787 @default.
- W1707050443 hasConcept C186027771 @default.
- W1707050443 hasConcept C18903297 @default.
- W1707050443 hasConcept C38935604 @default.
- W1707050443 hasConcept C40700 @default.
- W1707050443 hasConcept C41008148 @default.
- W1707050443 hasConcept C556758197 @default.
- W1707050443 hasConcept C86803240 @default.
- W1707050443 hasConcept C91306197 @default.
- W1707050443 hasConceptScore W1707050443C10138342 @default.
- W1707050443 hasConceptScore W1707050443C110875604 @default.
- W1707050443 hasConceptScore W1707050443C129361004 @default.
- W1707050443 hasConceptScore W1707050443C136764020 @default.
- W1707050443 hasConceptScore W1707050443C139719470 @default.
- W1707050443 hasConceptScore W1707050443C144133560 @default.
- W1707050443 hasConceptScore W1707050443C162324750 @default.
- W1707050443 hasConceptScore W1707050443C175444787 @default.
- W1707050443 hasConceptScore W1707050443C186027771 @default.
- W1707050443 hasConceptScore W1707050443C18903297 @default.
- W1707050443 hasConceptScore W1707050443C38935604 @default.
- W1707050443 hasConceptScore W1707050443C40700 @default.
- W1707050443 hasConceptScore W1707050443C41008148 @default.
- W1707050443 hasConceptScore W1707050443C556758197 @default.
- W1707050443 hasConceptScore W1707050443C86803240 @default.
- W1707050443 hasConceptScore W1707050443C91306197 @default.
- W1707050443 hasLocation W17070504431 @default.
- W1707050443 hasOpenAccess W1707050443 @default.
- W1707050443 hasPrimaryLocation W17070504431 @default.
- W1707050443 hasRelatedWork W1493029143 @default.
- W1707050443 hasRelatedWork W1685668953 @default.
- W1707050443 hasRelatedWork W1819450737 @default.
- W1707050443 hasRelatedWork W1825099556 @default.
- W1707050443 hasRelatedWork W196211557 @default.
- W1707050443 hasRelatedWork W1975753095 @default.
- W1707050443 hasRelatedWork W1986445136 @default.
- W1707050443 hasRelatedWork W1998356291 @default.
- W1707050443 hasRelatedWork W2089486100 @default.
- W1707050443 hasRelatedWork W2097674804 @default.
- W1707050443 hasRelatedWork W211602622 @default.
- W1707050443 hasRelatedWork W2118043941 @default.
- W1707050443 hasRelatedWork W2953849730 @default.
- W1707050443 hasRelatedWork W3020871492 @default.
- W1707050443 hasRelatedWork W3086717915 @default.
- W1707050443 hasRelatedWork W3121186625 @default.
- W1707050443 hasRelatedWork W3122116340 @default.
- W1707050443 hasRelatedWork W3122711381 @default.
- W1707050443 hasRelatedWork W3124790616 @default.
- W1707050443 hasRelatedWork W36144126 @default.
- W1707050443 isParatext "false" @default.
- W1707050443 isRetracted "false" @default.
- W1707050443 magId "1707050443" @default.
- W1707050443 workType "article" @default.