Video:

Embed:

El chocolate en la cultura guatemalteca

Compartir     

Markets and Network Externalities

15 de febrero de 2005   | Vistas: 2824 |  

About this video

Markets with network externalities have become extremely important in the world of economics and management. Robert S. Pindyck explains that network externalities do not compete in the market but for the market and mentions that the forces that affect consumers' choices do not only depend on the product itself but on how many other people use it. He shares the example of VHS and BETA markets as well as Microsoft Word and WordPerfect. He also analyzes both positive and negative network externalities and comments on the Rolex watches market. Finally, Pindyck discusses the competition process between firms by sharing a mathematical formula and explains the case of Sony and Phillips market for compact disks, and Sony and Toshiba market for high definition DVD.



Credits

Markets and Network Externalities
Robert S. Pindyck

Friedrich A. Hayek Auditorium
Universidad Francisco Marroquín
Guatemala, February 15, 2005

A New Media - UFM production. Guatemala, February 2005
Camera: Jorge Samayoa; digital editing: Alexander Arauz; index: Inés Zuñiga; synopsis: Sebastian del Buey; synopsis reviser: Daphne Ortiz; publication: Pedro David España


Robert S. Pindyck is Professor of Economics and Finance in the Massachussets Institute of Technology (MIT) and Bank of Tokyo-Mitsubishi…

IDEAS DE LA LIBERTAD

Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín