Announcements Evaluations Experiment.

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Presentation transcript:

Announcements Evaluations Experiment

Network Externalities Definition: A network externality exists when the utility that a user derives from consumption of the good increases with the number of other users consuming the good.

Direct vs. Indirect Direct effect – The number of users directly affects the quality / usefulness of the product. E.g., phone, word processors, eBay auctions Indirect effects – The amount and variety of complementary goods and services is a function of the number of direct users. E.g., Xbox/Sega game consoles, DVD players, possibly cell phone service

Can an inferior version beat a superior one? Beta vs. VHS IBM vs. Apple MS Word vs. Word Perfect Excel and Lotus 123 Netscape and Explorer

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