Standardization Across Markets and Entry (Classic Reprint)

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Excerpt from Standardization Across Markets and EntryIn many industries, consumers combine several components to build their own system. We analyze the incentives to standardize among firms selling a single component to consumers who have already acquired the rest of the system. By selling a component that can work with different systems, a firm credibly commits itself to charging the same price in all the submarkets. It is shown that this can be an optimal strategy for an incumbent who wants to restrict the scope of entry.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.