Bio-marker schreef op 12 juli 2018 16:49:
"Ik zie niet zo goed waarom dit "een winner takes it all markt" zou zijn."
High fixed cost, low marginal cost,
Vrije quotes naar Noe en Parker
Market structure ensures that market participation and investment policy are highly stochastic. Returns that are highly positively skewed, that is, even the firms that survive the competition for market position have a small chance of huge gains combined with a large probability of very modest returns. Because of large expenditures in the first period produce valuable strategic real options in later periods, which are treated as expenses using traditional accounting methodology, the financial valuation may actually be negatively related to performance when using standard accounting measures of profitability that fail to capitalize these strategic real options.
Winner Take All: Competition, Strategy, and the Structure of Returns in the Internet Economy