The role of externalities and information aggregation in market collapse (Q926199)
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scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | The role of externalities and information aggregation in market collapse |
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The role of externalities and information aggregation in market collapse (English)
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26 May 2008
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The author shows that if the network's externality effect diminishes too much, then an inefficient market collapse may occur, and the cost of re-entry to the market is too high. Therefore a strategic delay on the exit decision of the agents is analyzed.
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Social (observational) learning
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Information aggregation
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Strategic delay (waiting)
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Experimentation
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Coordination avalanche
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Optimal stopping
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