The economics of path-dependence in industrial organization

Article Abstract:

Path dependence in industrial organization describes the group of vital processes where small events provide lasting outcomes that the change in each moment's economic action is limited. Path dependence is analytically produced by partly coinciding indivisibility, irreversibility, and structural action agents. It can also be considered as a macroeconomic process since every agent may not have any knowledge and clear command of the sequence and timing of each state of change. It also provides a general framework that can embrace different vital processes useful in the research in industrial economics.

Organizing Business, Usage, Organizational change, Industrial management, Reengineering (Management), Dynamic programming, Path analysis

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First-mover advantages and path dependence

Article Abstract:

An analysis of first mover advantages with regards to market share and market leadership reveals that firms that are first to enter the industry can attain and maintain market leadership through cost-reduction research. Failure to lower production costs and product prices can undermine the leadership of first movers. The study also reveals that the factors affecting cost-reduction of first movers and subsequent companies are the same and that first-movers only have the advantage of time.

Market Targeting & Approach, Competition (Economics), Market strategy, Market share

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Natural oligopoly and customer networks in intermediated markets

Article Abstract:

The industrial structure of an intermediation industry is examined in brokerage markets where intermediaries aid in decreasing search conflicts. Competition in the intermediation industry is studied in an environment where intermediaries invest in information networks which allow them to inform the public about their prices. The market is found to be a natural oligopoly which is composed of three bigger intermediaries and smaller firms in niche markets.

Oligopolies, Financial intermediation

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