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Network Size, Value and Cycles

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Microsoft Word - wp61.doc & & ( ( 1 1 7 7 5 5 2 2 6 6 7 7 8 8 ' ' , , , , 1 1 ( ( & & 2 2 1 1 2 2 0 0 , , $ $ ( ( ) ) , , 1 1 $ $ 1 1 = = $ $ & & ( ( 1 1 7 7 5 5 ( ( ) ) 2 2 5 5 6 6 7 7 8 8 ' ' , , ( ( 6 6 , , 1 1 ( ( & & 2 2 1 1 2 2 0 0 , , & & 6 6 $ $ 1 1 ' ' ) ) , , 1 1 $ $ 1 1 & & ( ( : : 2 2 5 5 . . , , 1 1 * * 3 3 $ $ 3 3 ( ( 5 5 1 1 2 2 � � � � � � Network Size, Value and Cycles Hans W. Gottinger June 2001 DIPARTIMENTO DI SCIENZE ECONOMICHE - UNIVERSITÀ DEGLI STUDI DI SALERNO Via Ponte Don Melillo - 84084 FISCIANO (SA) Tel. 089-96 3167/3168 - Fax 089-96 3169 – e-mail: [email protected] : : 2 2 5 5 . . , , 1 1 * * 3 3 $ $ 3 3 ( ( 5 5 1 1 2 2 � � � � � � Network Size, Value and Cycles Hans W. Gottinger (University of Maastricht, Fondazione CARISAL and CSEF, University of Salerno) 5 Table of contents 1. Introduction 2. Hypotheses on Network Externalities 3. Hypotheses on Network Externalities 4. Technology Adoption, Network Industries and Network Effects 5. Networked Industrial Organization 6. Regression Specification 7. Regression Results 8. Effects of Technological Change 9. Conclusions References Statistical Appendix 1. Introduction One of the most striking economic aspects of networks is how they create externalities. Network externalities occur in both the demand and supply of the network. The textbook externality is a supply externality. For example, as a negative by

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