Chapter

Into the Future

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/10.1093/0199248893.003.0006
 Into the Future

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Sketches out the basic features of market evolution that follow from the events in the early stages of development. It assesses the advantages and disadvantages of being the first or second mover in a new market. It considers as well, the changing character of the competition once there is a dominant design and the issue of getting locked‐in. It concludes with some remarks on the possible character and origin of the new technology.

Keywords: competition; dominant design; first mover; lock‐in; new market; technology

Chapter.  8671 words. 

Subjects: Microeconomics

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