Knowledge and Competition

Chong Ju Choi, Carla C. J. M. Millar and Caroline Y. L. Wong

Chapter Chapter 7 in Knowledge Entanglements, 2005, pp 97-117 from Palgrave Macmillan

Abstract: Abstract This chapter combines looking at complexity with a consideration of value creation in knowledge-based industries. Our main conjecture is that indices (Jervis, 1985), or external truthful signals, can be used by the market to certify and rank the value of an actor’s product or services. Such path-dependent effects can lead to winner-take-all (Frank and Cook, 1995) results, where ranked actors gain a disproportionately large part of the market or value relative to unranked actors. This framework helps to illustrate the complexities of competition when our analysis integrates both markets and institutions.

Keywords: Complex Adaptive System; Exchange Partner; Knowledge Entanglement; Complex Adaptive System Theory; External Intermediary (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (36)

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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50892-7_8

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DOI: 10.1057/9780230508927_8

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