Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 7, 2004 erstellt
Description:
This paper examines the possibility that consumers will adopt an inefficient standard. When there are successive generations of consumers, the current generation will not consider the costs and benefits to past and future generations of adopting a new standard. If a standard is proprietary, the incentives of a firm to induce adoption of the standard generally do not match the social incentives. The divergence is caused by the firm's imperfect ability to appropriate the future surplus generated by the standard