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The Evolution of New Markets
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The Evolution of New Markets

Paul Geroski

Abstract

Sheds some light on how markets develop. In particular, it suggests that the ‘new economy’ is not much different from the ‘old economy’ and that in general, the early evolution of markets can significantly shape their later structure. The main arguments are elaborated in four chapters, each of them extensively illustrated with product‐case studies (internet, automobiles, television, or mobile phones, etc.). Ch. 2 explores the drivers of innovation and concludes that new technologies are basically pushed on to the market from the supply side. Ch. 3 looks at the dynamics of entry in a new market ... More

Keywords: competition, consensus good, dominant design, entrepreneur, innovation, logistic growth, market entry, new economy, new market, old economy, supply push, technology

Bibliographic Information

Print publication date: 2003 Print ISBN-13: 9780199248896
Published to Oxford Scholarship Online: November 2003 DOI:10.1093/0199248893.001.0001

Authors

Affiliations are at time of print publication.

Paul Geroski, author
Professor of Economics, London Business School; Deputy Chairman, Competition Commission

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