Standardization and expectations. (Q2571108)
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scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Standardization and expectations. |
scientific article |
Statements
Standardization and expectations. (English)
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3 November 2005
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The author answers three questions in Standardization: 1. How may existing standards affect the agents' expectations? 2. How may expectations affect the evolution of standards? 3. What are the welfare implications of the equilibrium, and which solutions would be imposed by a social planner?
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evolution of standards
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equilibrium
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solutions
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