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- W3122304772 abstract "The paper shows that in the presence of network externalities, consumers adopt conventional technologies too early; the waiting option for a newly emerging technology is not exercised enough. This problem is aggravated when the new technology is provided by a single producer with market power because any positive value created via waiting by current consumers will be ex post appropriated by the monopolist. Therefore, the monopolist´s power to extract surplus operates against his own interests in this dynamic setting. The paper also shows how the producer of a new technology can partially overcome the problem of too little waiting by using licensing as a commitment device." @default.
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- W3122304772 date "1997-01-01" @default.
- W3122304772 modified "2023-09-27" @default.
- W3122304772 title "Market Structure and the Timing of Technology Adoption with Network Externalities" @default.
- W3122304772 hasPublicationYear "1997" @default.
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