Chapter

Introduction

P. A. Geroski

in The Evolution of New Markets

Published in print April 2003 | ISBN: 9780199248896
Published online November 2003 | e-ISBN: 9780191596308 | DOI: http://dx.doi.org/10.1093/0199248893.003.0001
 Introduction

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Introduces the subject of the book: the common features in early phases of development of a new market. Illustrating with the surge of internet and the market for supercomputers as examples, it postulates that the ‘new economy’ is not much different from the ‘old economy’. It then sketches the main arguments that will be analysed in the book highlighting the role of innovation, the conditions for entry in a new market, the emergence of a dominant design, and dynamics of the early markets.

Keywords: dominant design; entrepreneur; innovation; internet; market entry; new economy; new market; old economy; supercomputers; technology

Chapter.  6042 words. 

Subjects: Microeconomics

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