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Media type:
E-Article
Title:
Incumbency advantage and its value
Contributor:
Biglaiser, Gary;
Calvano, Emilio;
Crémer, Jacques
imprint:
Wiley, 2019
Published in:Journal of Economics & Management Strategy
Language:
English
DOI:
10.1111/jems.12307
ISSN:
1058-6407;
1530-9134
Origination:
Footnote:
Description:
<jats:title>Abstract</jats:title><jats:p>Markets with network effects are typically concentrated. The aim of this paper is to discuss some recent work on “incumbency advantage.” That is, the fact that firms already installed generate higher profits than entrants even if the latter offer identical or even better terms (in terms of price and quality) to consumers. In particular, we review recently known sources of the advantage and potential mitigating factors and point to a number of open issues.</jats:p>