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Bounded Rationality at Large: Technological Standards in Airwaves Auctions
Jeroen Bruggeman, Hendrik Jan Visser and Wouter van Rossum
Vol. 82, No. 1 (Sep., 2003), pp. 169-173
Published by: Oxford University Press
Stable URL: http://www.jstor.org/stable/3598142
Page Count: 5
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In industries characterized by several technological standards, each with positive network externalities, competition is different from industries with technologically "loosely coupled" organizations. We therefore expected that in airwaves auctions for mobile telephony in the U.S., network externalities would show up in firms' bidding. They did, although most firms were penny-wise but pound-foolish.