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The Dynamic FirmThe Role of Technology, Strategy, Organization, and Regions$
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Alfred D. Chandler, Peter Hagstrom, and Örjan Sölvell

Print publication date: 1999

Print ISBN-13: 9780198296041

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198296045.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 24 June 2021

Localized Technological Change and the Evolution of Standards as Economic Institutions 1

Localized Technological Change and the Evolution of Standards as Economic Institutions 1

(p.78) 5 Localized Technological Change and the Evolution of Standards as Economic Institutions1
The Dynamic Firm

Cristiano Antonelli

Oxford University Press

Argues that localized technological change cannot be seen in isolation from national systems of innovation and the firm itself. It is shown how the often‐misunderstood role of standards as economic institutions plays an important part in the dynamics of technological change. Far from being only something of a public good, the adoption of standards poses a dilemma for an individual firm: should it stick to the local, monopolistic position built on proprietary knowledge or should it adhere to standards for better dissemination? There is also a cost for the firm associated with adopting standards. The author incorporates the emergence of standards into a formal model of a standardization club with both switching costs and network externalities, which then yields incentives for cooperative behaviour among firms for the adoption of standards.

Keywords:   adoption of standards, companies, cooperative behaviour, costs, diffusion of information, economic models, firms, innovation, monopolies, network externalities, proprietary knowledge, standardization club, standards, technological change, technology

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