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This characterization can be seen in a different light. Another related line of research has argued that ‘history makes a difference’.
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5
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The economics of gateway technologies and network evolution: lessons from electricity supply history
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Paul David's work is one prominent example; see, Draft paper, Stanford University, If I take some liberties in describing the line of his argument, then I might say that events are interrelated in a complex way and the interrelatedness reaches across time.In that light, ‘watching while being watched’ can be seen as one element in the human process that is necessary to assemble an adequate picture of these events that are related in a complex way over time. Or, put differently, our view of complex reality is a social construction, and the ‘watching’ is a key step in that construction. We individually rely on each other in an integral way for our view of a complex world. In this light, understanding how knowledge emerges from the social process - understanding the ‘watching’ becomes a useful enterprise.Perhaps it is also worth noting that the notion of economies of scope [[Truncated]]
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(1987)
High Technology Impact Program, Center for Economic Policy Research
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David1
Bunn2
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12
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0003766361
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See particularly sections 3 and 4 in his summary, Oxford University Press, Oxford, Of course, a more historical provenance must reach back at least to Pigou.
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(1956)
A Revision of Demand Theory
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Hicks1
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13
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Competing technologies and lock-in by historical small events: the dynamics of allocation under increasing returns
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Just one example is, Center for Economic Policy Research (Publication No 43), Stanford University, Since the main subject under discussion here is demand, and the discussion of critical mass in supply is a full-blown topic in its own right, it is not explored here. A comment on diffusion, however, does seem appropriate.Suffusing the desire, throughout a community, for some new technology - one description for value creation - also describes, of course, the diffusion of an innovation. If the horizontal scale in Figure 3 is renamed ‘time’, which would be an appropriate alternative, the critical mass process nicely reproduces the S-curve that is typically found in research on diffusion. That seems at least suggestive of the role which externalities (perhaps in a weaker form but nonetheless there) may play in the spread of many sorts of innovations, even those where interdependence appears to be absent.But this is not [[Truncated]]
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(1985)
Technological Innovation Project Working Paper No 4
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Brian Arthur1
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Of the work on this endlessly debated question, Farrell and Saloner have a recent intriguing piece that illustrates how planning may have an advantage in speed.
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A theory of interdependent demand for a communications service
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Of course, the argument that the marginal subscriber adds less value for the universal case than for, say, the individual subgroup does not by itself indicate that the total value for critical mass at universality is less than the total value for critical mass within the individual subgroup. In fact, a lower value for universality, which after all is composed of subgroups, may at first seem paradoxical.But if the same marginal analysis holds for each instance of the adding together of subgroups, if adding one subgroup to another results in a lower value being attached to communication across the two, then the apparent paradox dissolves. The marginal result of each accretion of a new subgroup leads to a steady progression down the usual, long run average demand curve. And upon reflection, it is becoming clear that critical mass for universality holds less value than critical mass for, say, a small subgroup.
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(1974)
The Bell Journal of Economics and Management Science
, vol.5
, pp. 16-37
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Rohlfs1
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A summary of this history by Elster and Hylland is succinct but pungent.
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Schumpeter emphasized, of course, both value creation and value destruction, though he did not see the role for the demand side that has been portrayed here.
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Of the work on this endlessly debated question, Farrell and Saloner have a recent intriguing piece that illustrates how planning may have an advantage in speed.
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