Do converters facilitate the transition to a new incompatible technology? A dynamic analysis of converters |
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Authors: | Jay Pil Choi |
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Institution: | Columbia University, Department of Economics, New York, NY 10027, USA |
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Abstract: | This paper analyzes the process of transition in standards between incompatible technologies when converters are available. Contrary to a common presumption that converters facilitate the transition from an old technology to an otherwise incompatible new technology, I find circumstances in which the possibility of transition is blockaded by the existence of converters. In the welfare analysis of converters, a distinction is made between ex ante and ex post efficiency effects. Finally, I also analyze the equilibrium behavior in the provision of converters and compare it to the socially optimal outcome. |
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Keywords: | Converters Technology Transition Compatibility Network Externality |
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