Stochastic racing and competition in network markets
by Hans-Werner Gottinger
International Journal of Technology, Policy and Management (IJTPM), Vol. 4, No. 3, 2004

Abstract: We look at a competitive situation in network markets where there is uncertain technological development in product/process technologies. Firms ''price'' compete in those markets to gain market share before any of them succeeds in getting an innovation to move ahead of its rival(s). If the firms are in a technology race and the probability of innovation success is small, then a firm with a bigger network advantage is likely to attract more customers in the absence of innovation. If, however, any of those firms expect innovation with a high probability and none of them have a big advantage, then they keep on sharing the market until the innovation occurs.

Online publication date: Mon, 31-Jan-2005

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