Managerial cognition and the mimetic adoption of market positions: what you see is what you do

Article Abstract:

Managers who intend to abandon a market position are required to search for better alternatives, and have to decide if they should create a new market position or simply enter a current position. An argument posits that organizations rely on other organizations when abandoning their market position and is thus likely to embrace a position that already exists instead of inventing a new one. To test this assertion, a longitudinal study of new format adoptions by radio stations in the was conducted. Findings of this study demonstrated that radio stations that participate in a new format facilitate mimetic entry by other stations that can observe their actions. Therefore, the results find support for the aforementioned argument.

Radio broadcasting stations, Radio Stations, Cognition

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Order of entry and performance in new markets

Article Abstract:

The assertion that the first entrant into a market enjoys an enduring advantage over all later market entrants is tested. Behavior and performance of three entrant categories - pioneers, early followers, and late entrants - are compared. A set of hypotheses are developed from a population ecology model. These hypotheses are tested on samples of start-up and adolescent businesses. The results indicate that the different entrant categories tend to have significantly different strategic profiles and performance levels. On the average, market pioneers outperform later entrants.

Planning, Marketing

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Beyond the reach of the invisible hand: impediments to economic activity, market failures, and profitability

Article Abstract:

Failures of the competitive market are prerequisites for supranormal profitability. From the theory of competitive markets, three fundamental causes of market failures are developed: production economies and sunk costs, imperfect information, and transaction costs. These causes of market failures are discussed in terms of their profitability. Successful strategies for exploiting market failures can be determined by identifying these 'impediments to economic activity'.

Analysis, Barriers to entry (Industrial organization), Barriers to entry

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