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Standards, Strategy, and PolicyCases and Stories$
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Peter Grindley

Print publication date: 1995

Print ISBN-13: 9780198288077

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198288077.001.0001

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Standards Policy and Regulation: Combining Committees and Markets

Standards Policy and Regulation: Combining Committees and Markets

(p.55) 3 Standards Policy and Regulation: Combining Committees and Markets
Standards, Strategy, and Policy

Peter Grindley

Oxford University Press

Markets are effective when it comes to setting standards for private goods, when policy interventions are needed, and where the public costs of incompatibility are high. Standard committees aim to avoid standard wars and ‘stranded’ users by agreeing standards before these are implemented. It is considered that a standard may benefit an individual firm but not the rest of the economy. This chapter discusses how official standard institutions have evolved for historical reasons and how it is necessary to re-evaluate the market forces that may be brought into the standardization process. A suggested rule has been made that industrial support policies must be kept separate from the actual standards setting.

Keywords:   markets, goods, policy, incompatibility, products, strategy, firms, standardization

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