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Do Converters Facilitate the Transition to a New Technology?: A Dynamic Analysis of Coverters

Choi, Jay Pil

This paper analyzes the process of transition in standards between incompatible technologies when converters are available. Contrary to a common presumption that converters facilitate the transition from an old technology to an otherwise incompatible new technology, I find circumstances in which the possibility of transition is blockaded by the existence of converters. When there are changes in the adoption behavior due to the existence of converters, I also analyze the welfare consequences of the changes in the adoption regimes. In the welfare analysis of converters, a distinction is made between ex ante and ex post efficiency.

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Academic Units
Economics
Publisher
Department of Economics, Columbia University
Series
Department of Economics Discussion Papers, 716
Published Here
February 28, 2011

Notes

December 1994.

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