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Product Quality Or Network Effects, Which Factor Drives the Success of Network Markets? A Game-Theoretic Analysis

出版	SSRN, 2013
URL	http://books.google.com.hk/books?id=b4oOzwEACAAJ&hl=&source=gbs_api

註釋The objective of our study is to capture roles of product quality and network effects in the success and efficiency of network markets under strategic settings. We develop scenarios that one firm with large network effects as an incumbent that is able to commit output or not and the other firm with high quality as a new entrant compete under quantity or price structure. We show that (i) whatever the firm is able to commit outputs or not, the network market is always efficient in equilibrium no matter what from the viewpoint of market share or profit unless the quality difference is relatively small but the difference over network effects is sufficiently large in quantity competition, where network effects may play a perverse role in market efficiency; (ii) network effects do not always enhances the role of quality in market efficiency and market growth; (iii) high quality one has an opposite attitude towards compatibility with firm with large network effects; (iv) network effects could increase the difficulty of entry even if the high-quality one, which means that sometimes the intervention of government as a visible hand is necessary to correct the distorted impact.