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Rounded Rationality at Large: Technological Standards in Airwaves Auctions
- Social Forces
- The University of North Carolina Press
- Volume 82, Number 1, September 2003
- pp. 169-173
- 10.1353/sof.2003.0077
- Article
- Additional Information
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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.